(Asia-Pacific) - East Timor Prime Minister Mari Alkatiri and Australian Prime Minister John Howard will attend the ceremony of signature of the agreement between their two countries about the petroleum resources on the Timor Sea on January 12 in Sydney.
Although it is a second agreement about the petroleum resources on the Timor Sea, it is mainly concerning the Greater Sunrise field and signed by the foreign affairs ministers of both countries, José Ramos-Horta and Alexander Downer.
The agreement was reached end of November 2005.
Mari Alkatiri had then described the agreement as "very positive" and good for both countries.
The agreement opens the way for the construction of a pipeline between Greater Sunrise and Timor-Leste and for the installation of a refining facility, starting off petroleum activities on Timorese soil.
Under the agreement Timor-Leste and Australia would split in equal shares (50:50) the petroleum resources of Greater Sunrise.
In the Joint Petroleum Development Area, Timor-Leste would continue to receive 90% of the resources, and Australia 10%.