Australia Timor Leste Agreement

[6] All obligations related to oil exploration and exploitation by Australia and East Timor during the duration of CMATS are governed by CMATS, the East Timor Treaty, the Sunrise International Unitization Agreement and all future agreements developed in accordance with the East Timor Treaty. However, the CMATS does not contain any retraction of the Timor Treaty or the Sunrise IUA. [23] Former East Timorese President and Nobel Peace Prize laureate Jose Ramos-Horta asked Australia to drop the charge for acting on their conscience when they made the charges. Timor-Leste`s oil revenues, which finance more than 90 per cent of public expenditure, are declining rapidly due to the depletion of existing fields in its territory.

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