Mon, August 20, 2012
World > Asia-Pacific > Focus on China's Neighborhood

India has not withdrawn from oil exploration bid in South China Sea

2012-08-20 07:53:06 GMT2012-08-20 15:53:06(Beijing Time)  SINA.com

India has not withdrawn from an oil and gas exploration bid in a block in the South China Sea “offered” by Vietnamese oil company PetroVietnam, the government has said.

ONGC Videsh Limited (OVL) is engaged in exploration of block 128 in South China Sea, Minister of State for Petroleum and Natural Gas R.P.N. Singh told the Lok Sabha in a written reply earlier this week.

He said that block 128 and production block 6.1 fell under disputed zones.

State-run OVL had halted its exploration activities in block 128 last year after China issued a demarche stating that its permission must be sought for exploration in block 127 and 128. The company was planning to quit the project. However, Vietnam later extended its exploration contract with OVL.

The minister said OVL was associated with eight exploration blocks as an operator and seven blocks as non-operator under various production sharing contracts.

He also said that OVL had 10 oil and gas assets in eight countries and produced 8.753 million tonnes of oil and oil equivalent gas.

Related news:

India to take the Vietnam’s bait for South China Sea oil

Vietnam has decided to extend the contract for exploration in a crucial oil bloc in South China Sea to an Indian company attempting to hold on to Indian presence in the resource-rich region, the Press Trust of India reported on July 15.

Vietnam holds on to India in South China Sea oil block

Vietnam has decided to extend the contract for exploration in a crucial oil bloc in South China Sea to an Indian company attempting to hold on to Indian presence in the resource-rich region, the Press Trust of India reported on July 15.

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