ONGC-Videsh going ahead with South China Sea explorationApril 24th, 2012 - 2:32 pm ICT by IANS
Agartala, April 24 (IANS) State-owned ONGC-Videsh will go ahead with the exploration of oil in the South China Sea despite China’s objections, a top company official said here Tuesday.
“ONGC-Videsh was selected through an international bid to explore oil in South China Sea. There is nothing wrong with it,” Oil and Natural Gas Corporation (ONGC) chairman and managing director (CMD) Sudhir Vasudeva told reporters.
“If there is any dispute in the South China Sea, it is between China and Vietnam. If there are territorial rows, it’s for those parties involved to sort them out. India is not involved in these affairs,” he said.
Vasudeva was reacting to China’s objection to joint exploration by ONGC-Videsh and a Vietnamese oil company in the South China Sea.
He said as for ONGC-Videsh’s exploring oil in the South China Sea, it was simply commercial activity without any political connotations.
“However, the Indian government is the appropriate authority to take apt steps in this regard and to make clear everything,” he said.
Three ASEAN (Association of Southeast Asian Nations) members — Vietnam, Malaysia and the Philippines — are in a bitter dispute with China over the ownership of the 52 islands in South China Sea.
China directly controls only seven of the 52 islands in the area. But it claims ownership of 90 percent of the area. Vietnam has control over 40 of the islands, the Philippines nine, Malaysia five and Taiwan one.
Accompanied by the company’s six directors and a magaging director, Vasudeva was here to attend the annual general meeting of the ONGC Tripura Power Company Ltd (OTPC), which was formed a few years back to set up the ONGC’s first commercial 726 MW capacity thermal power project at southern Tripura’s Palatana, 60 km south of here.
The gas-based thermal power project, being commissioned at a cost of Rs.9,000 crore, will resolve the power crisis of Assam, Meghalaya, Manipur, Nagaland, Mizoram and Tripura states.
Prime Minister Manmohan Singh had laid the foundation stone of the giant power project in October 2005.
the ONGC chief said for exploration of oil and gas, the Indian basin has become limited. Hence, the company is going for acquisition of new exploratory areas abroad.
“Our main focus now is to explore oil and gas in the deep sea water. Our performance is much better than last year. ONGC is doing better everywhere.”
Expressing satisfaction over speedy commissioning of the company’s first mega commercial (Palatana) power project, the ONGC chief said the plant would start producing electricity from June.
He said six Indian firms, including government owned ones, have expressed keenness to participate in the first gas-based fertilizer plant of ONGC.
“We would select the partner by early next month and then we prepare the concept paper for setting up of the urea fertilizer plant in northern Tripura,” Vasudeva stated.
- ONGC-Videsh going ahead with South China Sea exploration - Apr 24, 2012
- Six firms keen to partner ONGC for Tripura fertilizer plant - Apr 12, 2012
- ONGC to set up gas-based fertilizer plant in Tripura - Jan 24, 2012
- ONGC to set up n-plant, fertilizer unit, solar projects - Dec 29, 2011
- Northeastern India's largest power project to ease electricity woes - Nov 21, 2011
- First unit of ONGC's Tripura project to generate power in September - Jul 09, 2012
- China will not accept provocative action in South China Sea: Official - Jun 26, 2012
- ONGC's first power project to start generation this month - Sep 03, 2012
- ONGC's Rs.24 bn Assam project on fast track - Jul 23, 2011
- ONGC strikes new gas field in Tripura - Mar 15, 2011
- ONGC project to help end northeast's power crisis - Aug 21, 2010
- India has not withdrawn from Vietnamese oil block: Minister - Aug 18, 2012
- Equipment reaches Tripura power plant via Bangladesh - Mar 30, 2011
- ONGC to commission first power project in Tripura - Jun 03, 2011
- ONGC Videsh inks deal with PetroVietnam - Oct 12, 2011
Tags: agartala, annual general meeting, appropriate authority, assam, association of southeast asian nations, bitter dispute, connotations, crore, indian government, international bid, manipur, meghalaya, mizoram, nagaland, ongc videsh, power crisis, sea exploration, south china sea, southeast asian nations, vasudeva