Australia, Timor-Leste to renegotiate sea border treaty

Both governments say the current treaty governing an estimated $50 billion worth of reserves will be terminated

Australia, Timor-Leste to renegotiate sea border treaty
Australia and Timor-Leste would have to renegotiate a treaty on their sea border as the current treaty in place between the two government will be terminated.
According to a joint statement, Timor-Leste has told Australia that it will soon formally inform that it wants to terminate the 2006 treaty that’s in place, paving the way for the agreement to cease to be in effect three months after the formal notification.
The treaty governs the Greater Sunrise oil and gas reserve in the Timor Sea which is estimated to contain about $50 billion in oil and gas.
East Timor has been clamouring for years to renegotiate the treaty after Australia had been reported to have bugged the country’s leaders during the negotiations for the current treaty.
“The governments of Australia and Timor-Leste remain committed to their close relationship and continue to work together on shared economic, development and regional interests,” said the countries’ joint statement.
Last September, the Permanent Court of Arbitration in The Hague noted it was competent to handle the conciliation between the two countries with respect to the sea border dispute.
Timor-Leste had urged the Court to mediate saying bilateral talks were unsuccessful while Australia had argued the Court had no jurisdiction.
Australia initially refused to negotiate the permanent border until 2056 at the earliest, the year the current treaty’s moratorium on discussions on a permanent border expires.

Related stories:
PCA to mediate Australia-East Timor sea border dispute
ABA president highlights issues in the Northern Territory, Timor Leste

Recent articles & video

New metric developed to assess socioeconomic challenges of US law school applicants

American Bar Association to examine accreditation standards for online law schools

International law firm to fund neurodiversity assessments and support for employees

Yoorrook Justice Commission CEO is new Human Rights Commission president

Victorian, Queensland Supreme Courts publish guidelines for AI use

MinterEllison expands consulting team with seven partners

Most Read Articles

NSW Supreme Court sets trial date for landmark strip search class action

K&L Gates Advises Centuria on acquisition of massive glasshouse in Victoria

Hall & Wilcox assists Tobii Dynavox to acquire Link Assistive for $13m

Pearce IP's AU litigation head shares the most important lesson she learned from her old job