The Third United Nations Conference on the Law of the Sea (UNCLOS III) has found great difficulty in codifying the international customary rules governing the delimitation of the sea-bed boundaries. The latest draft of the future convention on the law of the sea is the revised Informal Composite Negotiating Text (ICNT Rev/1), which was debated at the ninth session of UNCLOS HI during March 3 – April 4, 1980. Article 83 of the ICNT Rev/1 provides that the delimitation of the continental shelf should be effected by agreement in accordance with equitable principles, employing where appropriate, the median or equidistant line, and taking account of all relevant circumstances. Furthermore, Article 83(2) of the ICNT Rev/1 states that if no final agreement can be reached within a reasonable period of time, the States concerned should resort to the compulsory procedures provided for in the Part XV. However, Article 298(a) of the ICNT Rev/1 states that disputes concerning sea boundary delimitation between opposite and adjacent States constitute one of the exceptions whereby the party States may declare themselves free from compulsory procedure.