Independent Timor will honor oil treaty: Australia envoy

Independent Timor will honor oil treaty: Australia envoy

CANBERRA (AP): An independent East Timor would probably seek
to renegotiate aspects of the Timor Gap Treaty, but would honor
the controversial agreement between Australia and Indonesia,
Australia's ambassador to Jakarta said Wednesday.

The treaty divides up the gas and oil rich area of the sea bed
between Australia and Timor into three zones -- Australian,
Indonesian and a joint cooperation zone.

East Timor is a disputed territory at the eastern end of the
Indonesian archipelago. Separatists have fought against
Indonesian rule in the former Portuguese colony since it was
invaded in 1975.

Talks to deliver autonomy or independence to East Timor are
being sponsored by the United Nations.

An independent East Timor would inherit most of the area now
covered by the Indonesian zone, leading to concerns amongst
Australian mining companies about the future of the treaty.

But ambassador John McCarthy said East Timorese independence
leaders had made it clear they would abide by the treaty with
Australia if they succeeded in breaking free of East Timor.

"I would also not be totally surprised if some aspects were
renegotiated," McCarthy said.

"But certainly, as to the main purpose of the treaty, with
respect to whatever government might eventually take over, they
have to honor the treaty.

"The (pro-independence) Fretilin side in East Timor have
suggested publicly that they would in fact abide by normal
international practice on succession, and hence would take over
the rights and obligations under the Timor Gap Treaty which
formerly fell to Indonesia."

McCarthy warned it may be another 18 months before Indonesia's
economy recovers from the Asian downturn, and that Australian
companies looking for a short term profit should look elsewhere.