Treaty between Australia and the Democratic Republic of Timor-Leste Establishing their Maritime Boundaries in the Timor Sea 2018.

The 2018 Treaty between Australia and the Democratic Republic of Timor-Leste, adopted on March 6, 2018, in New York, establishes the maritime boundaries between the two nations in the Timor Sea. It seeks to settle the dispute over their maritime limits, while fostering sustainable economic development, especially in the management of the resources in the Timor Sea. The Treaty addresses the delimitation of the exclusive economic zone and continental shelf, particularly the special regime governing the Greater Sunrise Fields. Key provisions include the establishment of the Greater Sunrise Special Regime, provisions on the management of petroleum resources, and guidelines for the exploitation of straddling deposits. The agreement reaffirms the Parties' commitment to environmental protection and safety, as well as the resolution of disputes through conciliation and arbitration. The Treaty also includes a compensation clause and outlines the process for its permanent validity and entry into force, contingent upon the fulfillment of required formalities by both parties. This Treaty, integral to the long-term management of the Timor Sea, replaces prior agreements such as the Timor Sea Treaty and the International Unitisation Agreement.