Why Oil and Gas in the South China Sea Won’t Be Developed


Link bait. And interesting.

Dateline 2014-07-18:

The South China Sea has enormous potential for oil and gas reserves but territorial conflict will likely hold it back for years to come.

On July 16, the China National Petroleum Corporation (CNPC) decided to remove its oil rig from contested waters, stating that its exploration mission was completed after finding “sings of oil and gas.”

While moving the rig out of waters claimed by both China and Vietnam could cool tensions, the intractable dispute over territory is holding back what could be massive investment in oil and gas exploration.

The Wall Street Journal reported on several major international oil companies that are steering clear of the South China Sea because of the conflict, despite the potentially huge reserves of oil and gas in its waters.

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This entry was posted on Thursday, October 2nd, 2014 at 6:53 am and is filed under Malaysia, oil and gas. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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