Timor Sea Treaty
The Timor Sea Treaty, which was signed on the 20 May 2002, led to the establishment of the Timor Sea Designated Authority (TSDA). This organisation is responsible for the administration of all petroleum-related activities in a part of the Timor Sea known as the Joint Petroleum Development Area (JPDA). The treaty was ratified in February 2007.
Under the terms of the treaty, royalties on petroleum production in the JPDA are split in a 90:10 ratio between East Timor and Australia. It has been criticised because the treaty did not finalise the maritime boundary between East Timor and Australia.
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