India ready to move oil platform

India “likely” to move platform.

India ready to move oil platform into South China Sea

India’s Oil and Natural Gas Corporation is ready to move an oil platform into the South China Sea to help the Vietnamese government explore for natural resources beneath disputed waters in the region, reports China’s nationalist tabloid Global Times.

The Oil and Natural Gas Corporation Videsh Limited, the overseas arm of Oil and Natural Gas Corp, signed a production-sharing contract with PetroVietnam, the state-run oil company of the Southeast Asian country, to explore a section of the South China Sea known as Block 128, currently under Vietnamese control. Vietnam initially looked at an area designated Block 127 but it showed few prospects. Thus the 7,058 square kilometers of Block 128, which lies in the Phu Khanh Basin, will be the main exploration site, according to Bloomberg.

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Source: wantchinatimes.com

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