Tuesday October 25, 2005

Oil dispute fuels China-Japan tension

peakoil.com -> gulf-news.com :

China has, according to Japanese reconnaissance data, completed at least one new drilling platform in the East China Sea and may already be tapping into natural gas and oil fields, escalating a dispute with Japan over the rights to billions of dollars worth of underwater energy reserves. A second Chinese drilling platform in the area also appears nearly complete.

The two drilling platforms in question appear to lie just within the Chinese side of a dividing line that Japan has already acknowledged as separating the territorial waters of both nations. Japan argues, however, that China is tapping into energy fields that straddle an area claimed by both Japan and China.

Official surveys say the disputed fields contain an estimated 7 trillion cubic feet of natural gas and up to 100 billion barrels of oil.

(2005-10-25 20:41:18 SGT) [Energy] Permalink

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