Sydney | Nobel laureate Jose Ramos-Horta looks set to become East Timor’s president after taking a decisive lead in Tuesday’s election, reviving chances of progress in the stalled $50 billion Greater Sunrise oil and gas field project operated by Australian energy group Woodside.

With almost half the votes counted, Mr Ramos-Horta led with 59 per cent of the vote in the second and final round of the presidential elections, while incumbent President Francisco “Lu Olo” Guterres had 41 per cent, data from the country’s election administration body (STAE) showed.