India affirms to continue oil and gas exploration with Vietnam
TNHK reported that the Indian government has confirmed that it has not withdrawn from the oil and gas exploration plan with PetroVietnam in the East Sea at block 128 located on the continental shelf of Vietnam, which China also claims sovereignty over.
In a reply letter sent to the Indian House of Representatives a few days ago, Indian Petroleum Minister RPN Singh confirmed that the oil and gas company onGC Videsh is participating in exploration work in block 128 in the East Sea.
India continues to cooperate in oil and gas exploration with Vietnam. (Source: PVI)
India's state-owned onGC Videsh had initially considered withdrawing from Block 128 due to the hard seabed. However, last month, the company announced it had accepted a proposal from its Vietnamese partner to continue exploring Block 128 after Hanoi agreed to extend the contract and provide additional data for oil and gas exploitation there.
Chinese state media on August 1 made an unreasonable statement when they demanded a strong response if Vietnam and India exploit oil and gas in the East Sea. The Global Times newspaper demanded that the Chinese government use strong political pressure on India and Vietnam, even warning that the two countries' cooperation in oil and gas exploration in the East Sea is "illegal and violates Beijing's sovereignty."
The Indian partner has "ignored" Beijing's warning that the action violated Chinese territory, with a commitment to continue cooperating with its partner, the Vietnam National Oil and Gas Corporation (PetroVietnam), to continue implementing the exploration and exploitation contract for a few more years./.
According to Investment - MD
