PetroChina to explore in Spratly chain

Reuters Tuesday, July 6, 2004
SINGAPORE Beijing has given PetroChina, the mainland's top oil producer, the go-ahead to explore for oil and gas in the southern part of the South China Sea, a company spokesman said Tuesday. Industry sources said the area was near the disputed Spratly Islands.
.
The Spratlys, a cluster of rocks and reefs that may lie atop rich deposits of oil and natural gas, are claimed in whole or in part by China, Taiwan, the Philippines, Brunei, Malaysia and Vietnam.
.
"We confirm that PetroChina applied to the Ministry of Land and Resources for oil and gas exploration and production licenses covering the southern part of the South China Sea to commence offshore crude oil and natural gas exploration and production activities," Mao Zefeng, head of investor relations for PetroChina, said Tuesday.
.
Mao declined to reveal the exact area PetroChina had been given permission to explore, but a Chinese industry source said the block was close to the hotly disputed Spratly archipelago of more than 100 islands and reefs. Mao did not say when the exploration would start.
.
China is the world's second-largest consumer of oil.
.
PetroChina's exploration in the South China Sea marks an erosion of the role of CNOOC as the country's dominant offshore oil and gas producer, but it is unlikely to pose any real threat to CNOOC, analysts said.
.
PetroChina's oil production has virtually been flat in the past several years despite increased spending on exploration and production. Output at its main Daqing oilfield in northeast China has been on the decline following decades of pumping.



See more of the world that matters - click here for home delivery of the International Herald Tribune.
< < Back to Start of Article SINGAPORE Beijing has given PetroChina, the mainland's top oil producer, the go-ahead to explore for oil and gas in the southern part of the South China Sea, a company spokesman said Tuesday. Industry sources said the area was near the disputed Spratly Islands.
.
The Spratlys, a cluster of rocks and reefs that may lie atop rich deposits of oil and natural gas, are claimed in whole or in part by China, Taiwan, the Philippines, Brunei, Malaysia and Vietnam.
.
"We confirm that PetroChina applied to the Ministry of Land and Resources for oil and gas exploration and production licenses covering the southern part of the South China Sea to commence offshore crude oil and natural gas exploration and production activities," Mao Zefeng, head of investor relations for PetroChina, said Tuesday.
.
Mao declined to reveal the exact area PetroChina had been given permission to explore, but a Chinese industry source said the block was close to the hotly disputed Spratly archipelago of more than 100 islands and reefs. Mao did not say when the exploration would start.
.
China is the world's second-largest consumer of oil.
.
PetroChina's exploration in the South China Sea marks an erosion of the role of CNOOC as the country's dominant offshore oil and gas producer, but it is unlikely to pose any real threat to CNOOC, analysts said.
.
PetroChina's oil production has virtually been flat in the past several years despite increased spending on exploration and production. Output at its main Daqing oilfield in northeast China has been on the decline following decades of pumping. SINGAPORE Beijing has given PetroChina, the mainland's top oil producer, the go-ahead to explore for oil and gas in the southern part of the South China Sea, a company spokesman said Tuesday. Industry sources said the area was near the disputed Spratly Islands.
.
The Spratlys, a cluster of rocks and reefs that may lie atop rich deposits of oil and natural gas, are claimed in whole or in part by China, Taiwan, the Philippines, Brunei, Malaysia and Vietnam.
.
"We confirm that PetroChina applied to the Ministry of Land and Resources for oil and gas exploration and production licenses covering the southern part of the South China Sea to commence offshore crude oil and natural gas exploration and production activities," Mao Zefeng, head of investor relations for PetroChina, said Tuesday.
.
Mao declined to reveal the exact area PetroChina had been given permission to explore, but a Chinese industry source said the block was close to the hotly disputed Spratly archipelago of more than 100 islands and reefs. Mao did not say when the exploration would start.
.
China is the world's second-largest consumer of oil.
.
PetroChina's exploration in the South China Sea marks an erosion of the role of CNOOC as the country's dominant offshore oil and gas producer, but it is unlikely to pose any real threat to CNOOC, analysts said.
.
PetroChina's oil production has virtually been flat in the past several years despite increased spending on exploration and production. Output at its main Daqing oilfield in northeast China has been on the decline following decades of pumping. SINGAPORE Beijing has given PetroChina, the mainland's top oil producer, the go-ahead to explore for oil and gas in the southern part of the South China Sea, a company spokesman said Tuesday. Industry sources said the area was near the disputed Spratly Islands.
.
The Spratlys, a cluster of rocks and reefs that may lie atop rich deposits of oil and natural gas, are claimed in whole or in part by China, Taiwan, the Philippines, Brunei, Malaysia and Vietnam.
.
"We confirm that PetroChina applied to the Ministry of Land and Resources for oil and gas exploration and production licenses covering the southern part of the South China Sea to commence offshore crude oil and natural gas exploration and production activities," Mao Zefeng, head of investor relations for PetroChina, said Tuesday.
.
Mao declined to reveal the exact area PetroChina had been given permission to explore, but a Chinese industry source said the block was close to the hotly disputed Spratly archipelago of more than 100 islands and reefs. Mao did not say when the exploration would start.
.
China is the world's second-largest consumer of oil.
.
PetroChina's exploration in the South



See more of the world that matters - click here for home delivery of the International Herald Tribune.
< < Back to Start of Article SINGAPORE Beijing has given PetroChina, the mainland's top oil producer, the go-ahead to explore for oil and gas in the southern part of the South China Sea, a company spokesman said Tuesday. Industry sources said the area was near the disputed Spratly Islands.
.
The Spratlys, a cluster of rocks and reefs that may lie atop rich deposits of oil and natural gas, are claimed in whole or in part by China, Taiwan, the Philippines, Brunei, Malaysia and Vietnam.
.
"We confirm that PetroChina applied to the Ministry of Land and Resources for oil and gas exploration and production licenses covering the southern part of the South China Sea to commence offshore crude oil and natural gas exploration and production activities," Mao Zefeng, head of investor relations for PetroChina, said Tuesday.
.
Mao declined to reveal the exact area PetroChina had been given permission to explore, but a Chinese industry source said the block was close to the hotly disputed Spratly archipelago of more than 100 islands and reefs. Mao did not say when the exploration would start.
.
China is the world's second-largest consumer of oil.
.
PetroChina's exploration in the South China Sea marks an erosion of the role of CNOOC as the country's dominant offshore oil and gas producer, but it is unlikely to pose any real threat to CNOOC, analysts said.
.
PetroChina's oil production has virtually been flat in the past several years despite increased spending on exploration and production. Output at its main Daqing oilfield in northeast China has been on the decline following decades of pumping. SINGAPORE Beijing has given PetroChina, the mainland's top oil producer, the go-ahead to explore for oil and gas in the southern part of the South China Sea, a company spokesman said Tuesday. Industry sources said the area was near the disputed Spratly Islands.
.
The Spratlys, a cluster of rocks and reefs that may lie atop rich deposits of oil and natural gas, are claimed in whole or in part by China, Taiwan, the Philippines, Brunei, Malaysia and Vietnam.
.
"We confirm that PetroChina applied to the Ministry of Land and Resources for oil and gas exploration and production licenses covering the southern part of the South China Sea to commence offshore crude oil and natural gas exploration and production activities," Mao Zefeng, head of investor relations for PetroChina, said Tuesday.
.
Mao declined to reveal the exact area PetroChina had been given permission to explore, but a Chinese industry source said the block was close to the hotly disputed Spratly archipelago of more than 100 islands and reefs. Mao did not say when the exploration would start.
.
China is the world's second-largest consumer of oil.
.
PetroChina's exploration in the South China Sea marks an erosion of the role of CNOOC as the country's dominant offshore oil and gas producer, but it is unlikely to pose any real threat to CNOOC, analysts said.
.
PetroChina's oil production has virtually been flat in the past several years despite increased spending on exploration and production. Output at its main Daqing oilfield in northeast China has been on the decline following decades of pumping. SINGAPORE Beijing has given PetroChina, the mainland's top oil producer, the go-ahead to explore for oil and gas in the southern part of the South China Sea, a company spokesman said Tuesday. Industry sources said the area was near the disputed Spratly Islands.
.
The Spratlys, a cluster of rocks and reefs that may lie atop rich deposits of oil and natural gas, are claimed in whole or in part by China, Taiwan, the Philippines, Brunei, Malaysia and Vietnam.
.
"We confirm that PetroChina applied to the Ministry of Land and Resources for oil and gas exploration and production licenses covering the southern part of the South China Sea to commence offshore crude oil and natural gas exploration and production activities," Mao Zefeng, head of investor relations for PetroChina, said Tuesday.
.
Mao declined to reveal the exact area PetroChina had been given permission to explore, but a Chinese industry source said the block was close to the hotly disputed Spratly archipelago of more than 100 islands and reefs. Mao did not say when the exploration would start.
.
China is the world's second-largest consumer of oil.
.
PetroChina's exploration in the South China Sea marks an erosion of the role of CNOOC as the country's dominant offshore oil and gas producer, but it is unlikely to pose any real threat to CNOOC, analysts said.
.
PetroChina's oil production has virtually been flat in the past several years despite increased spending on exploration and production. Output at its main Daqing oilfield in northeast China has been on the decline following decades of pumping.
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