Agreement with East Timor clarifies legal status of Greater Sunrise gas field and establishes regime to develop and share resource, after long dispute

Australia and Timor-Leste have reached a historic agreement, concluding a long-running and bitter maritime boundary dispute over the Timor Sea through conciliation.

The deal clarifies the legal status of the Greater Sunrise gas fields, and establishes a regime to develop and share revenue from the resource, according to a statement released by the conciliation commission of the permanent court of arbitration in Copenhagen on Saturday.

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