Australia and Timor-Leste to negotiate permanent maritime boundary

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Published by : CT WEB 2017-01-09 14:27:14

Australia and Timor-Leste have agreed to begin negotiations on a permanent maritime boundary between the two countries, potentially ending years of dispute over the lucrative oil-rich Timor Gap and closing a chapter of mistrust and enmity between the two neighbours.

Canberra and Dili have agreed to tear up the controversial Certain Maritime Arrangements in the Timor Sea treaty that divides future revenue from the Greater Sunrise oil and gas reserve, where an estimated $40bn worth of oil and gas lies beneath the Timor Sea.

(The Guardian)

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