Australia and East Timor Closer to a Deal on Timor Sea Oil and Gas

Australia and its tiny neighbour East Timor are moving closer to a deal on sharing billions of dollars’ worth of oil and gas reserves under the Timor Sea.

With talks due to wind up later in Dili, the two sides are discussing an agreement that would allow work to start on the Greater Sunrise oil and gas field, which has an estimated nine billion dollars (seven billion US) worth of reserves.
AFP via Yahoo! News