It means .. is (living) in another place, that you must travel by sea to get to... The title is is a reference to the well-known Scottish song: "My bonnie lies over the ocean, my bonnie lies over the sea, my bonnie lies over the ocean, Oh, bring back my bonnie to me... etc.

No, it means the other side of the ocean. This is a pun on a song My Bonnie Lies Over the Ocean.