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BACK
DOOR Newsletter on East Timor
Timor
Oil - Background Resources
Tada
uluk kona ba Timor nia Mina
Minyak
di Timor: penerangan yg lengkap
O
Petróleo de Timor: o informação
Return
East Timor's oil and gas revenue!
Up-Dated: Feb
25,
2004
Return
to Main Contents:
BD: The 2004 TIMOR OIL Collection
NEW = Added to BACK
DOOR Website within the past month
Contents:
Fact sheets
Indepth Analysis
Major Resources
Fact sheets
2004 TSJC: Historical Background to the Timor
Sea dispute Info added 25 Aug 2004
"* Oil
and gas worth more than US $30 billion lie under the Timor Sea, between
East Timor and Australia, * 68%
of the petroleum resources in the Timor Sea lie closer to East Timor
than to Australia, and are claimed by East Timor under International
Law * Under
current revenue sharing arrangements, Australia takes 72% of the
petroleum revenues in the Timor Sea, including almost 60% of the
revenues from fields closer to East Timor than to Australia. " Timor Sea Justice Coalition,
Australia
2004
TSJC: Area of Timor Sea dispute Info added 25 Aug 2004
"If international law under the United Nations Convention of the Law of
the Sea (UNCLOS) were to be applied all of the Bayu-Undan, Greater Sunrise and Laminaria/Corralina reserves would fall within
Timor Leste's Exclusive Economic
Zone (EEZ) - within Timor Leste's maritime boundary." Timor Sea Justice Coalition,
Australia
2004 TSJC: International Law Info added 25
Aug 2004
"The
first starting point is for Timor Leste and Australia to negotiate the
maritime boundary. If that was unsuccessful, they could then use the
international
tribunal for the law of the sea or the International Court of Justice
(ICJ) to adjudicate any dispute about the maritime boundary. However,
to pre-empt Timor Leste taking the matter to international
arbitration, Australia in March 2002 withdrew from that part of the
jurisdiction of the ICJ which deals with maritime boundary.This means
Timor Leste will have to negotiate directly with Australia.
So clearly Timor Leste as a newly independent state would be locked
into a David and Goliath battle with Australia to resolve fair and
equitable maritime boundaries. " Timor Sea Justice Coalition,
Australia
Indepth Analysis
Aug
2003 LHB: Timor Sea
Historical
Background
Article added 12 Feb 2004
"East Timor’s economic
independence
depends on the money the new nation can earn by selling its natural
resources,
especially the petroleum deposits which lie under the Timor Sea between
East Timor and Australia. These fields, which contain oil and gas worth
more than US$30 billion, lie closer to East Timor’s south coast than to
any other land. However, due to a history of colonialism, invasion,
occupation,
and illegal activities by Indonesia and Australia, East Timor could
receive
less than half of the revenues it should be entitled to under the
principles
of the United Nations Convention on the Law of the Sea (UNCLOS)."
La’o Hamutuk, East Timor Institute for Reconstruction Monitoring and
Analysis
Major Resources
June
2003 LH: CD-ROM on East Timor’s Oil & Gas available
Info added 16 Feb 2004
"Oil and gas under the
Timor
Sea between East Timor and Australia are essential to East Timor’s
economic
future. Although these resources will bring much-needed money to East
Timor,
they also bring danger. Around the world, oil and gas development often
comes with war, corruption, dictatorship, repression and environmental
destruction. To help explain these issues, La’o Hamutuk has compiled
information
and documents in a “website” which does not require connection to the
internet.
Most of OilWeb is English, although it includes much in Bahasa
Indonesia / Malay
and some Tetum and Portuguese." La’o Hamutuk,
East
Timor Institute for Reconstruction Monitoring and Analysis
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