On January 9, 2017, the governments of Australia and Timor Leste agreed to “an integrated package of measures intended to facilitate the conciliation process and create the conditions conducive to the achievement of an agreement on permanent maritime boundaries in the Timor Sea.” According to a trilateral joint statement [3] issued by the two governments and the Permanent Court of Arbitration (PCA), part of this package will be the termination of the 2006 Treaty on Certain Maritime Arrangements in the Timor Sea [4] pursuant to Article 12(2) of that treaty. With an eye to stability and predictability for petroleum companies working in the area, the agreement specified that the Timor Sea Treaty between the Government of East Timor and the Government of Australia [5] of 2002 and its supporting regulatory framework would remain in force in its original form prior to being amended by the now terminated 2006 treaty. Additionally, the parties committed to cooperate in negotiating permanent maritime boundaries between the two countries under the auspices of the United Nations Convention on the Law of the Sea Conciliation Commission.