Declaration under article 287 (April 29, 2015):
"In accordance with paragraph 1 of article 287 of the United Nations Convention on the Law of the Sea of December 10th, 1982, the Government of the Republic of Panama declares that it accepts the competence and jurisdiction of the International Tribunal of the Law of the Sea for the settlement of the dispute between the Government of the Republic of Panama and the Government of the Italian Republic concerning the interpretation or application of UNCLOS that arose from the detention of the Motor Tanker NORSTAR, flying the Panamanian flag."
Declaration made upon ratification:
"[The Republic of Panama] declares that it has exclusive sovereignty over the "historic Panamanian bay" of the Golfo de Panamá, a well-marked geographic configuration the coasts of which belong entirely to the Republic of Panama. It is a large indentation or inlet to the south of the Panamanian isthmus, where sea-waters superjacent to the seabed and subsoil cover the area between latitudes 70 28' 00" North and 70 31' 00" North and longitudes 70 59' 53" and 78 11' 40", both west of Greenwich, these being the positions of Punta Mala and Punta Jaqué, respectively, west and east of the entrance of the Golfo de Panama. This large indentation penetrates fairly deep into the Panamanian isthmus. The width of its entrance, from Punta Mala to Punta de Jaqué, is some 200 kilometres and it penetrates inland a distance of 165 kilometers (measured from the imaginary line joining Punta Mala and Punta Jaqué to the mouths of the Rio Chico east of Panama City).
Given its present and potential resources, the historic bay of the Golfo de Panamá is a vital necessity for the Republic of Panama, both in terms of security and defense (this had been the case since time immemorial) and in economic terms, as its marine resources have been utilized since ancient times by the inhabitants of the Panamanian isthmus.
It is oblong in shape, with a coast outline that roughly resembles a calf's head, and its coastal perimeter, which measures some 668 kilometers, is under the maritime control of Panama. According to this delimitation, the historic bay of the Golfo de Panama has an area of approximately 30,000 km 2 .
The Republic of Panama declares that, in the exercise of its sovereign and territorial rights and in compliance with its duties, it will act in a manner compatible with the provisions of the Convention and reserves the right to issue further statements on the Convention if necessary."