China hits JACKPOT in South China Sea, finds huge treasure of…, opens new chapter of power game in…, big worry for India due to…
Beijing: China has discovered vast reserves of ‘black gold’ in the South China Sea. CNOOC (China National Offshore Oil Corporation), China’s state-owned energy giant, has announced the discovery of a major offshore oil field with reserves of over 100 million metric tons. This is great news for China’s economy because, like India, China has been forced to buy a large part of its oil needs. China’s discovery may seem like an energy security issue, but it is actually part of its strategic maritime expansion policy. Through this discovery, China aims to reduce its dependence on energy imports while simultaneously strengthening its dominance in maritime boundaries. This discovery has occurred in areas where China has disputes with countries like Vietnam, the Philippines, Malaysia, and Taiwan.
The Pearl River Mouth Basin has new oil and gas fields in the area called Caping South in the eastern part of the South China Sea. This area has long been considered one of China’s most promising offshore regions, and the latest data from CNOOC indicates that its resource potential is being extensively confirmed. According to the company, the Caping South area contains approximately 102 million tons of crude oil, in addition to more than 380 billion cubic feet (10.9 billion cubic meters) of natural gas. The reserves in the Caping South 1-1 well have been confirmed through exploratory drilling, which reached a depth of 3,462 meters and entered layers with a vertical thickness of 35.2 meters containing oil and gas. The well is located about 300 kilometers off the coast of Guangdong province.
China’s ‘oil exploration’ is not just a story of economic gain, but also of power projection. The increasing military presence in the region and now the claim over oil resources is making ASEAN countries more uncomfortable. This situation is serious for India, as India’s Act East Policy and Indo-Pacific Strategy are directly linked to the South China Sea. Meanwhile, the United States will also have to respond to China’s ‘oil diplomacy’ in the Indo-Pacific. China will not only use this reserve for itself but will also utilize it for regional control in the future. If this region comes completely under China’s control, it could control maritime trade, energy supply, and strategic movement in the Indo-Pacific region. This situation will pose a significant challenge for Western countries and India.
According to experts, this oil reserve is as much an economic boon for China as it is a part of its geopolitical agenda. It is no longer just about oil exploration but a new type of maritime dominance struggle.
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