Australia upbeat on Timor Sea talks<\/p>\n
SINGAPORE (Dow Jones): Australia is approaching negotiations
\nto divide revenues from natural gas reserves in the Timor Sea
\nwith "a feeling of good will, a feeling of being generous," Daryl
\nManzie, Minister of Resources for the Northwest Territories, said
\nTuesday.<\/p>\n
"Indonesia and Australia have expressed concerns about
\nstability, but we are working together...Stability concerns don't
\naffect gas reserves in the Timor Sea, where 3.4 trillion cubic
\nfeet are in the Zone of Cooperation but almost 40 trillion cubic
\nfeet lie outside the Zone," Manzie said, in response to a
\nquestion on security in the region.<\/p>\n
While East Timor and Australia have already agreed to divide
\nroyalty and tax revenues from petroleum production in the Zone of
\nCooperation A, they have not yet concluded negotiations for
\nrevenues from natural gas production.<\/p>\n
"We don't know if negotiations will bring up 60 percent\/40
\npercent (in East Timor's favor) or 50 percent\/50 percent, but
\nAustralia is not reluctant to discuss that," Manzie said,
\nspeaking at the sidelines at the three-day Asia Pacific Petroleum
\nConference, or APPEC, that ends Wednesday.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/australia-upbeat-on-timor-sea-talks-1447893297",
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"sponsor": "Okusi Associates",
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