Published 2008-11-12
Keywords
- Timor Sea Joint Petroleum Development Area,
- Timor Sea,
- Timor Sea Treaty 2002,
- resource exploration,
- public international law
- Treaty on Certain Maritime Arrangements in the Timor Sea 2006,
- International Unitisation Agreement for the Greater Sunrise 2003,
- Petroleum (Timor Sea Treaty) Act 2003 (Cth),
- Greater Sunrise Unit Area,
- maritime boundaries,
- Petroleum Mining Code 2005,
- marine environment,
- Production Sharing Contract,
- limitation of liability,
- choice of law clause ...More
Abstract
This paper contains the slides for Thompson's presentation concerning the Timor Sea 'Joint Petroleum Development Area'. In his presentation, Thompson provides a recap on treaty status and legislative structure regarding the Area, and discusses significant provisions of the Timor Sea Treaty, anomalies within the Timor Sea Treaty, regulation of the JPDA and recent developments, and limitation of liability for owners of vessels engaged in the JPDA, while also commenting on the Draft 'Technical Regulations for the Exploration and Exploitation of Petroleum in the JPDA'.
Thompson concludes that the participants that engage in business within the Joint Petroleum Development Area must do so under an increasingly complex regime of laws, and that extreme care should be taken when conducting any risk/compliance assessment as there are both overlapping and gaps in the legal instruments that participants must comply with.