Subject: ABC: Ramos Horta promises movement on Timor Sea deal
ABC News Online
Ramos Horta promises movement on Timor Sea deal
East Timor's Prime Minister Jose Ramos Horta says he will move within weeks to ratify a multi-billion dollar boundary deal with Australia on oil and gas reserves in the Timor Sea.
He says he will argue that East Timor's Parliament should approve the agreement, which was signed with Australia in January.
The Greater Sunrise field is one of the largest proven oil and gas reserves in the Asia-Pacific.
Dr Ramos Horta says Australia and East Timor agreed to a 50-50 split of revenue from the Timor Sea field.
"Timor Leste can not be in the habit of negotiating agreements, signing them, and then we change our mind and withhold ratification. So we will intend to do it," he said.
"I intend to bring it to Parliament and make a robust and a convincing argument in defence of this agreement."