Examples of Timor Sea Treaty in a sentence
As soon as practicable, the Designated Authority shall enter into the Greater Sunrise Production Sharing Contract under conditions equivalent to those in Production Sharing Contracts JPDA 03-19 and JPDA 03-20, and to the legal rights held under Retention Leases NT/RL2 and NT/RL4 in accordance with Article 22 of the Timor Sea Treaty and Article 27 of the International Unitisation Agreement.
The text of Article 22 of the Timor Sea Treaty relating to the duration of that Treaty is replaced by the following: “This Treaty shall be in force for the duration of the Treaty between the Government of Australia and the Government of the Democratic Republic of Timor-Leste on Certain Maritime Arrangements in the Timor Sea.
The Treaty is applicable to the Sunrise and Troubadour petroleum deposits (collectively known as Greater Sunrise), which extend across the eastern boundary of the Joint Petroleum Development Area (JPDA) created under the Timor Sea Treaty.
The Committee received approximately 80 submissions 1 For a more comprehensive coverage of the history of negotiations between Australia and Indonesia regarding maritime boundaries in the Timor Sea, see JSCOT Report 49: The Timor Sea Treaty, paras 1.4-1.21.
The Sunrise IUA formalises the apportionment of the field as set out in Annex E under Article 9(b) of the Timor Sea Treaty.
The application of the Parties' taxation law shall be specified in the fiscal regime as agreed between the Parties and the Greater Sunrise Contractor, in accordance with obligations under Article 22 of the Timor Sea Treaty and Article 27 of the International Unitisation Agreement.
However, CMATS granted Timor-Leste a higher share of the estimated potential revenues of US $65 billion (50% instead of 20% under the Timor Sea Treaty).
On the day of Timor-Leste’s 1 Xxxxx Xxxxxxx Xxxxxxx and Hao Xxx Xxxx, Interstate Compulsory Conciliation Procedures and the Maritime Boundary Dispute between Timor-Leste and Australia, 2018, working paper independence in 2002, the government of the new nation signed the Timor Sea Treaty with Australia.
The terms for the Joint Petroleum Development Area (JPDA) established under the previous Timor Sea Treaty were simi- lar.
In 2013 Timor-Leste started arbitral proceedings against Australia under the Timor Sea Treaty, which were adminis- tered at the International Court of Arbitration to nullify CMATS.