Tuesday, April 17, 2012

India says oil, gas cooperation with Vietnam in the East Sea will continue  | Look At Vietnam

India says oil, gas cooperation with Vietnam in the East Sea will continue 

April 17, 2012
An Vietnamese oil rig in the East Sea
An Indian official has reiterated that India will not step back in face of China’s warnings against its collaboration with Vietnam in exploring oil and gas in the East Sea, the Vietnam News Agency reported Friday.
The East Sea is the world’s property, and no one has right to control it unilaterally, the report quoted Minister of State for Parliamentary Affairs and Planning Ashwani Kumar as saying.
India is fully capable of protecting its financial interests and national strategies, he said.
Earlier, on April 6, Indian External Affairs Minister S. M. Krishna made the same statement about the East Sea, saying that trade-ways must be free of any national interference, the news agency reported

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Last September China warned Indian companies against entering oil and gas agreement with Vietnam in the East Sea, after learning that India planned a project to explore oil in two blocks offshore Vietnam.
In October, Vietnam and India signed an agreement on expanding oil exploration and production in the sea.
Recently China made the same objection after the Vietnam National Oil and Gas Group (PetroVietnam) signed an pact with the Russian energy giant Gazprom to set up a partnership to explore gas in the East Sea on April 5.
In response to China’s comment, Vietnamese Ministry of Foreign Affairs’ spokesman Luong Thanh Nghi on Thursday said all the oil and gas projects that Vietnam is cooperating with foreign partners on are within the country’s sovereign territories and in accordance with international laws.
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