East Timor wants a new gap treaty with Australia<\/p>\n
SYDNEY (Agencies): East Timor wants to dismantle the Timor Gap
\ntreaty and draw up new maritime boundaries, putting virtually all
\nthe petroleum-rich Australia-Indonesia joint development area
\nunder Dili's control, a report said Thursday.<\/p>\n
The National Council of Timorese Resistance (CNRT) wants
\nagreement with Canberra on a new international boundary by the
\ntime Dili's first independent government is established next
\nyear, according to The Australian.<\/p>\n
\"We are doing everything we can to have this settled and ready
\nto be signed by the first elected leader of the new East Timor
\nnation,\" said Mari'e Aikatiri, CNRT's economic planning chief.<\/p>\n
\"We are not thinking of renegotiation but a new treaty.\"<\/p>\n
Talks between Aikatiri and Peter Galbraith, political chief of
\nthe UN Transitional Administration in East Timor (UNTAET), were
\nexpected to be held in Canberra Thursday.<\/p>\n
The CNRT is seen as East Timor's government-in-waiting and
\nwants a seabed boundary drawn between East Timor and Australia as
\nthe starting point for negotiations on a new Timor Gap oil and
\ngas revenue-sharing deal.<\/p>\n
It would effectively give East Timor crucial fiscal gains, but
\nAustralia would lose significant royalty revenue.<\/p>\n
AFP reported that Australian Foreign Minister Alexander Downer
\nsaid his government was prepared to listen to the East Timorese
\ncase but emphasized the need for a stable political climate in
\nthe area.<\/p>\n
\"The Timor Gap Treaty arrangements will be a matter for
\nagreement in due course between Australia and East Timor,\" his
\nspokesman said.<\/p>\n
\"But, both parties are fully aware of the commercial
\nimportance of maintaining stability in the Timor Gap regime.\"<\/p>\n
Meanwhile, a Phillips Petroleum Co executive said on Thursday
\nAustralian, East Timorese and United Nations officials have told
\noil companies renegotiation of the Timor Gap Treaty would not
\nhurt their oil and gas plans, .<\/p>\n
Companies led by operator Phillips have invested hundreds of
\nmillions of dollars in the Timor Gap and are counting on the
\nterms of the treaty to stay the same or at least not hurt the
\neconomics of their development projects.<\/p>\n
Phillips Darwin area manager Jim Godlove said companies had
\nmade clear to Australian, East Timorese and United Nations
\nofficials it was essential to keep a legal and administrative
\nregime in place and make sure the tax, cost recovery and
\nproduction sharing terms for the companies were not worsened.<\/p>\n
\"A fiscal regime equivalent to the one that we're operating
\nunder right now -- no more onerous -- must remain in place,\"
\nGodlove told Reuters.<\/p>\n
The Timor Gap Treaty was signed between Australia and
\nIndonesia in 1989.<\/p>\n
Earlier this year UNTAET, the UN authority which took control
\nof East Timor after the territory voted for independence from
\nIndonesia in August, formally replaced Jakarta as partner in the
\nregulation and administration of petroleum operations.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/east-timor-wants-a-new-gap-treaty-with-australia-1447893297",
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