China began cooperation with the Philippines and Vietnam in a
joint marine seismic undertaking in the disputed South China Sea
area, and a ceremony for the project was held on Friday.
The China National Offshore Oil Corporation (CNOOC), China's
largest offshore oil producer, announced Friday that one of its
subsidiaries, China Oilfield Services Ltd. (COS), was involved in
the work.
The ceremony, held in Shenzhen of Guangdong Province, marks a
new progress in the cooperation among China, the Philippines and
Vietnam in the disputed South China Sea area, the CNOOC said.
The COS won the two-dimensional seismic exploration project in
the bidding jointly organized by the national oil companies of
China, the Philippines and Vietnam during Aug. 8-12, for its
excellent market analysis and bidding strategy, the company
said.
The three national oil companies signed an agreement on a joint
marine seismic undertaking in the South China Sea area this March,
under which they will jointly gather two-dimensional and
three-dimensional seismic data in the 140,000-square kilometer sea
area in three years.
They will also join hands in processing the two-dimensional
seismic data collected in the area.
An official of the CNOOC hailed the cooperation, saying it is an
important step of the three countries to jointly implement the
Declaration on the Conduct of Parties in the South China Sea.
The declaration, signed between China and members of the
Association of Southeast Asian Nations in 2002, is a major
political document on resolving disputes in the South China Sea by
peaceful means.
The cooperation will benefit the people of the three countries
and contribute to stability and development in the region, said the
official.
Listed in Hong Kong in 2002, the COS is China's largest offshore
oil field services company, with 65 percent stakes held by the
CNOOC.?
(Xinhua News Agency August 27, 2005)