Buffalo affected by maritime treaty

The new boundary showing the Buffalo field within Timor-Leste's zone.

The new boundary showing the Buffalo field within Timor-Leste's zone.

Carnarvon Petroleum has revealed that its WA-523-P permit has been affected by the maritime border treaty between Timor-Leste and Australia.

The Treaty between Australia and the Democratic Republic of Timor-Leste Establishing Their Maritime Boundaries in the Timor Sea was signed this week by Minister for Foreign Affairs Julie Bishop and her Timor-Leste counterpart Hermenegildo Augusto Cabral Pereira.

The Buffalo oil field, which sits within WA-523-P, now falls within Timor-Leste’s exclusive jurisdiction, with a portion of the permit remaining in Australia’s maritime borders.

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