The Timor Sea Treaty between Australia and East Timor was signed on May 20, 2002.
In announcing the conclusion of negotiations on May 17, the Minister for Foreign Affairs, Alexander Downer, had this to say:
Statement from the Minister for Foreign Affairs, Alexander Downer.
I am delighted to announce that yesterday we successfully concluded the negotiations over the Timor Sea Treaty. This Treaty and related documents will open the way for major oil and gas developments in the Timor Sea between Australia and a newly independent East Timor.
Since reaching agreement in July 2001 on a draft Timor Sea Arrangement, negotiations have been under way to turn this into a Treaty and to provide a sound legal framework that will enable commercial development of the resources. The Treaty, an Exchange of Notes on provisional arrangements until entry into force of the Treaty and a Memorandum of Understanding on an International Unitisation Agreement for the Greater Sunrise field will be signed in Dili on 20 May.