Exploration & Production

Agreement reached over Timor Sea’s Greater Sunrise

East Timor and Australia have reached an agreement over the disputed Greater Sunrise gas field, the Permanent Court of Arbitration announced on Monday.
By Staff reporter 26 February 2018 0 29740

East Timor and Australia have reached an agreement over the disputed Greater Sunrise gas field, the Permanent Court of Arbitration announced on Monday, according to Reuters.

The split in revenues from the offshore gas field will depend on the downstream benefits that arise from “different development concepts”.

The arbitration proceedings will establish a maritime boundary in the Timor Sea for the first time. Australia sought a boundary aligned with its continental shelf, but East Timor argued the border should lie halfway between it...