The 2018 Maritime Boundary Treaty between Timor-Leste and Australia is in many ways extraordinary. Firstly, it was settled through the first-ever compulsory conciliation process under the United Nations Convention on the Law of the Sea. Secondly, the Parties managed to overcome a long, complicated and difficult history to close the ‘Timor Gap’ and reach an agreement on permanent maritime boundaries. That was possible by setting aside the controversial issue of ownership over Greater Sunrise by drawing provisional boundaries that will adjust after the field is fully depleted. Thirdly, the agreement established a special regime over Greater Sunrise, to allow for joint management and development of the field and distribution of the large majority of the revenues to Timor-Leste
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