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Vietnam: "Chinese Vessels Cut Seismic Cables"

By MarEx 2012-12-04 13:26:27

Chinese fishing boats have been accused by PetroVietnam, a state owned oil and gas company, of running over cables which were being laid by one of their seismic ship in the South China Sea. The terriorial waters in which this particular event took place has been disputed for decades by Vietnam, the Philippines Malaysia, Taiwan, and Brunei.

The U.S. Energy Information Administration has estimated oil reserves in the South China Sea range from 28 billion barrels to as high as 213 billion barrels. PetroVietnam has been disputing with the China National Offshore Oil Corporation (CNOOC) about its claims to oil blocks within its 200-nautical miles of Exclusive Economic Zone. But China is also disputing their rights to the regional seabeds and islands and has threaten its neighbors militarily.

PetroVietnam said the two Chinese fishing vessels intentionally ran over the cable laying operation on November 30th. The company claims this is the second time that China's fishing fleet has damaged its cable laying in the same region.