THE DRAGON IS THE MAJOR OBSTRUCTION BUT RESERVES ARE BEING PROVEN AND DELIVERED
Photo by Andrew Schmitt http://www.publicdomainpictures.net/view-image.php?image=7554&picture=oil-drilling-platformAccording to the various trade journals that we monitor offshore drilling and production contractors are starting to prove reserves and even produce oil on the edges of the disputed regions of the South China Sea.
McDermott International Inc. (NYSE: MDR) has become the first to install rigid reel-lay pipe the Asia Pacific region for the Siakap North Petal (SNP) development offshore of Malaysia which recently experienced the intrusion into Malaysia's exclusive economic zone waters of Chinese drilling vessels. Now we know why the Dragon was poking its nose into Malaysian EEZ waters.
The SNP is one of the most challenging deepwater projects in the world.
Conoco Phillips has announced start up of gas production from the South Belut field in South Naatuna Sea block B offshore Indonesia, the block is about 746 miles south of Jakarta with various other fields in production.
Our point is not to detail all of the production coming on line in the region, there are more specialized sources of that type of news such as OFFSHORE and others noted in our NEWS SERVICE. We simply wish to point out that the presence of offshore oil in the China Seas isn't speculation. Oil is the reason that China behaves so badly. China desperately needs oil, but their insistence that they must own it outright even when it legally belongs to a neighbor is what is making for such unrest in the region.Drilling contractors need reliable and settled permit systems. Much more oil would be on line if China had opted for peaceful joint development in strict adherence to the EEZ provisions of the UN Law of the Sea Conference. Even if China finally prevails by force of arms few petroleum industry A list players are going to want to deal with them. Sovereignty gained by conquest of arms is not recognized under international law. Getting permits from the Dragon outside of its own recognized EEZ could lead to losses and liabilities.The fastest way for China to increase its oil supply would be to conform to international law, cease its aggression, and deal honestly with its neighbors.
The SNP is one of the most challenging deepwater projects in the world.
Conoco Phillips has announced start up of gas production from the South Belut field in South Naatuna Sea block B offshore Indonesia, the block is about 746 miles south of Jakarta with various other fields in production.
Our point is not to detail all of the production coming on line in the region, there are more specialized sources of that type of news such as OFFSHORE and others noted in our NEWS SERVICE. We simply wish to point out that the presence of offshore oil in the China Seas isn't speculation. Oil is the reason that China behaves so badly. China desperately needs oil, but their insistence that they must own it outright even when it legally belongs to a neighbor is what is making for such unrest in the region.Drilling contractors need reliable and settled permit systems. Much more oil would be on line if China had opted for peaceful joint development in strict adherence to the EEZ provisions of the UN Law of the Sea Conference. Even if China finally prevails by force of arms few petroleum industry A list players are going to want to deal with them. Sovereignty gained by conquest of arms is not recognized under international law. Getting permits from the Dragon outside of its own recognized EEZ could lead to losses and liabilities.The fastest way for China to increase its oil supply would be to conform to international law, cease its aggression, and deal honestly with its neighbors.
The first and only book to give an analysis of the oil, gas, and mineral deposits of Southeast Asia, including its economic geology. The stratigraphy, structure, hydrocarbon and coal deposits of the major Tertiary basins are described, and regional similarities and differences are analyzed.
- Series: Oxford Monographs on Geology and Geophysics36 (Book 36)
- Paperback: 282 pages
- Publisher: Oxford University Press (March 24, 2005)
- Language: English
- ISBN-10: 0198526490
- ISBN-13: 978-0198526490
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