China puts Indian oil block up for auction

China can dare to take such steps only due to spineless Indian rulers and politicians. Now it is high time for all patriotic Indians to unite and establish Hindu Rashtra having patriotic and righteous rulers, which can give befitting reply to enemy nation like China !

New Delhi : Facing criticism for its increasing dominance in South China Sea, China has now dragged India into muddle. China has reportedly put up a Vietnamese petroleum block under exploration by an Indian oil firm for global bidding.

As per reports of Financial Express, this move was meant to counter a Hanoi legislation asserting the country’s control over offshore areas and islands. China considers this as disputed. This has put India in a fix as Vietnam wants India not to vacate this block.  

ONGC Videsh Ltd (OVL) was contracted 128 blocks, which were part of the nine petroleum blocks that were placed for global bidding by China Offshore Oil Corporation (CNOOC) last month. Recently the blocks put up for bidding were compared to existing blocks already given out by Vietnam in the same area, the newspaper further said. It also maintained that the results show that a substantive part of block 128 is also covered by the grid of blocks put up for offer by CNOOC. 

Reacting sharply, Vietnam has said that all these blocks fall in its Exclusive Economic Zone and are in accordance with the United Nations Convention on the Law of Sea (UNCLOS). 

In an earlier development, OVL had decided to exit this block sometime back as it had failed to start drilling activity according to the schedule outlined in the original contract. However, OVL said that the surveys that they had conducted did show much promise for any big finds. 

Subsequently, as per sources, Petro vietnam once again approached OVL with new terms and conditions allowing it two more years for exploration. It is said that OVL is inclined to extend its exploration activity in block 128.

During the ASEAN Regional Forum meet in Cambodia concluded last week India had strongly pitched for ‘freedom of navigation” in South China Sea. Therefore, India has a crucial decision ahead seeking to achieve a diplomatic position on the issue. India has to take some crucial decisions to avoid diplomatic uneasiness.

Source : News Bharati