Australia, Timor-Leste agree on border


KUALA LUMPUR, February 26, 2018 – Australia and Timor-Leste have agreed on a demarcation for their maritime border and on a flexible revenue-sharing scheme for the development of the Greater Sunrise offshore gasfields, local media reported on Monday.


Profits from the contested field, the development of which may nevertheless stall for another decade, will be distributed according to the downstream benefits of “different development concepts,” Australia’s ABC News reported.

The Greater Sunrise fields, discovered in 1974, are estimated to contain 145 bcm (5.13 tcf) of gas reserves and 226 million barrels of condensate.