Cambodia and Thailand have begun a United Nations-backed conciliation process to settle a long-running maritime boundary dispute over a 26,000 sq km area in the Gulf of Thailand believed to contain billions of dollars worth of oil and natural gas.
The two countries’ foreign ministers delivered opening statements at the first meeting of the Conciliation Commission under the United Nations Convention on the Law of the Sea (UNCLOS) in Singapore on Sept 15.
Cambodian Foreign Minister Prak Sokhonn said Phnom Penh was seeking an agreement with Thailand to establish a single maritime boundary covering all purposes.
“In the alternative, Cambodia would be prepared to conclude an agreement with Thailand for the joint development and equitable sharing of resources between the two states,” he said.
Thailand’s Foreign Minister Sihasak Phuangketkeow said the proceedings were limited to the delimitation of the maritime boundary between the two countries in the Gulf of Thailand.
“Thailand enters this conciliation in good faith, fully mindful of the provisions of UNCLOS,” Sihasak said, adding that Bangkok had previously proposed holding direct negotiations on the maritime boundary before entering the UNCLOS process.
The maritime area has been contested by Cambodia and Thailand for more than 25 years and is estimated to contain nearly 12 trillion cubic feet of natural gas alongside substantial oil reserves, with the resources valued at around US$300 billion.
The two neighbours had previously agreed in 2001 to establish a framework for jointly developing the resources in the so-called overlapping claims area. Thailand terminated that agreement in May following deadly border clashes between the two countries last year.
Cambodia subsequently announced in June that it had initiated the compulsory conciliation process under UNCLOS.
Under the mechanism, an independent panel examines the dispute and issues recommendations, although those findings are not legally binding on either side.
The process is only the second known use of the U.N.-backed mechanism, following Timor-Leste’s successful use of it to resolve a decades-long maritime dispute with Australia.
Reuters
