Memorandum of Understanding between the Royal Thai Government and the Royal Government of Cambodia regarding the Area of their Overlapping Maritime Claims to the Continental Shelf. (18 June 2001)
Have agreed as follows:
1. The parties consider that it is desirable to enter into provisional arrangements of a practical nature in respect of the Overlapping Claims Area.
2. It is the intent of the Parties, through accelerated negotiation, to simultaneously:
Conclude an agreement for the joint development of the hydrocarbon resources located within the joint development area; and
Agree upon a mutually acceptable delimitation of the territorial sea, continental shelf and exclusive economic zone in the area to be delimited.
It is firmly the intent of the parties to treat the provisions of paragraphs (a) and (b) above as an indivisible package.
3. For the purpose of Article 2, there shall be established a Joint Technical Committee, comprising officials of Thailand and Cambodia to be separately nominated. The Joint Technical Committee shall be responsible for drawing up:
The agreed terms of the Joint Development Treaty, including a mutually acceptable basis for costs and benefits of the exploitation of hydrocarbon resources located in the Joint Development Area; and
An agreed delimited of the territorial sea, continental shelf and exclusive economic zone between their respective current claims in the area to be delimited in accordance with applicable principles of international law.
4. The Joint Technical Committee shall meet regularly with a view to concluding its work in relation to these matters expeditiously. The Joint Technical Committee may establish such sub-committees as it considers appropriate.
5. Subject to entry into force of the delimited of the Parties’ respective maritime claims in the Area to be Delimited, this memorandum of Understanding and all actions taken pursuant to this Memorandum of Understanding are without prejudice to the maritime claims of either party.