China Expects Production From Disputed Gas Field in First Half
Posted on: Monday, 23 January 2006, 12:00 CST
By Kyodo News International, Tokyo
Jan. 23--HONG KONG -- China National Offshore Oil Corp., China's largest offshore oil producer, has finished infrastructure work at a disputed oil and gas field in the East China Sea and expects production to start in the first half of this year, a company executive said Monday.
Previewing the company's strategy for 2006, Executive Vice President Yang Hua told a press conference that five offshore projects including the Chunxiao field are ready to start production in the first half of 2006. However, he added that the exact date of launching production is not up to the company.
"Regarding the Chunxiao project, I should say that technology, construction and infrastructure works had finished at the end of 2005, conditions were ripe for production," Yang said. "But when production will start is not up to the producer." The Chunxiao field is located about 2 kilometers inside the Chinese side of what Japan claims to be the median line separating the two countries' 200-nautical-mile exclusive economic zones in the East China Sea. China does not recognize that median line.
Japan has expressed concern that China might siphon off resources that could be buried under the seabed on the Japanese side of the median line.
"Regarding negotiations between China and Japan...I hope both countries can reach consensus on joint exploration of resources. That would be a good thing for the people of both countries," Yang said.
The company budgets oil production volume this year to be approximately 170 million barrels of oil equivalent, for a 9 percent increase over 2005.
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Source: Kyodo News International, Tokyo
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