PakEagle
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Beijing: India will pay a heavy price for exploring oil in the disputed areas of South China Sea, said a leading Chinese official. China will not stand any joint cooperation in our claimed maritime areas, said Wu Shicun, president of the government-run National Institute of South China.
Wu was referring to joint exploration project by ONGC-Videsh and a Vietnamese oil company in South China Sea. There are a lot of economic and political risks for the Indian oil company, Wu said. The Indian company involved in exploring oil in the disputed area should do a proper cost benefit analysis, he said. About 40% of the area in the two offshore blocks under exploration by India falls in the disputed zone, he said.
Wu, who advises the Chinese government on the South China Sea dispute, said India and Japan should play a positive role in pushing for settlement of the problem. The Chinese government will not dilute its claims over the disputed islands because nationalism prevails strongly in China, he said.
Wu was referring to joint exploration project by ONGC-Videsh and a Vietnamese oil company in South China Sea. There are a lot of economic and political risks for the Indian oil company, Wu said. The Indian company involved in exploring oil in the disputed area should do a proper cost benefit analysis, he said. About 40% of the area in the two offshore blocks under exploration by India falls in the disputed zone, he said.
Wu, who advises the Chinese government on the South China Sea dispute, said India and Japan should play a positive role in pushing for settlement of the problem. The Chinese government will not dilute its claims over the disputed islands because nationalism prevails strongly in China, he said.
