The verdict issued Wednesday in Hamburg, Germany, settled a long-standing dispute between Bangladesh and neighboring Myanmar.
Myanmar had claimed that its maritime boundary with Bangladesh cut directly across the Bangladesh coastline, severely limiting Bangladesh's maritime jurisdiction to a narrow wedge of sea extending about 130 miles (200 kilometers).
Myanmar, which shares a 170-mile (275-kilometer) of land border with Bangladesh, also claimed that the tribunal lacked jurisdiction to award continental shelf rights beyond 200 miles (321 kilometers) from either state's coast.
But the tribunal rejected both of these arguments. Sources also informed that The judgment is final and without appeal.
The verdict is seen as an opportunity for energy-starved Bangladesh, which is seeking new sources of gas amid a forecast that its current reserves will run out by 2014-15.
Last year, Bangladesh signed a production-sharing contract with U.S. energy giant ConocoPhillips to explore for gas in the virtually unexplored deep waters of the Bay of Bengal, but its area of exploration was limited because of the maritime dispute with Myanmar and India.
A similar case is pending with the tribunal over disputed waters with India. The verdict of that case is expected in 2014.