Australia has signed a deal with East Timor ending a long-running maritime boundary dispute, relinquishing ownership of about $8 billion worth of oil and gas reserves.

“It seems unfair that we have to split the boundary exactly halfway between the two countries,” said Australian Foreign Minister Julie Bishop.

“Yeah, the line we drew up does look a bit weird to the naked eye, but a line in the middle of the two land masses just seems ridiculous.”

The original Timor Sea maritime boundary was drawn up during a period of time when Australia had a lot of power and East Timor had none.

Bishop remained confident, however, that the deal was just a roadblock in the way of securing more oil profits.

“The location of oil and gas processing is still yet to be determined,” she said.

“Fortunately, we have made steady progress with some under the table dealings with multinational companies and we also gained some crucial data spying on East Timor cabinet meetings.”