The Australian Parliament passed legislation to implement the treaty between Australia and the Democratic Republic of Timor-Leste Establishing their Maritime Boundaries in the
Timor Sea.
The company expects to make a final investment decision with its partners later this year on whether to develop the Barossa gas field to keep the Darwin LNG plant filled when supply runs out around 2022 from its current source, the Bayu Undan field in the
Timor Sea.
Less well understood, however, is the dispute between the small Southeast Asian state of Timor-Leste and its much larger neighbour Australia over maritime boundaries and oil and gas reserves in the
Timor Sea. Principally, the
Timor Sea constitutes a distinctive kind of dispute from those most well understood in Southeast Asia.
AUSTRALIA and East Timor have signed a historic treaty drawing their maritime boundary, ending years of bitter wrangling over billions of dollars of oil and gas riches lying beneath the
Timor Sea and opening a new chapter in relations.
The dispute has soured relations since 2002, when East Timor gained independence from Indonesia.East Timor will gain most of the revenue from the contested gas fields in the
Timor Sea, representatives of East Timor and Australia agreed on Tuesday in New York.
In addition to these zones, there are interesting new finds in the
Timor Sea, where big oil and gas discoveries have been made.
More than 6,000 miles east of Africa, just north of Australia and across the
Timor Sea, is Timor-Leste, the official name of East Timor.
investor in Timor-Leste is ConocoPhillips; its Bayu-Undan gas condensate development is located in the
Timor Sea joint petroleum development area between Timor-Leste and Australia.
Collaery is representing East Timor's government in an arbitration hearing at The Hague which accuses Australia of espionage over a controversial
Timor Sea gas treaty.
The Company has assembled a portfolio of exploration, appraisal and development stage opportunities on the NW Shelf, the Ashmore Cartier and the
Timor Sea regions in Australia, offshore North Sumatra, and on Madura Island, East Java in Indonesia and the Gulf of Thailand.
It flows north through the Drysdale River National Park and drops 262 feet at the spectacular King George Falls before entering the
Timor Sea at Koolama Bay.
Situated on the
Timor Sea, Darwin is about 2,000 miles northwest of Canberra, Australian Capital Territory.
