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Oil And Gas | December 04, 2012
#28240

Navy to safeguard ONGC's asset

In order to safeguard the interests of state-run explorer Oil and Natural Gas Corp (ONGC) in a gas field in the Nam Con Son basin, off Vietnam’s south coast, Indian Navy is prepared to act if required, Navy Chief Admiral DK Joshi said.

   At a press conference, he said while India was not a claimant in the dispute over territorial rights in the South China Sea, it was prepared to act, if necessary, to protect its maritime and economic interests in the region.

   The comments of the official comes amid growing international fears over the potential for naval clashes in the disputed region. India has sparred diplomatically with China in the past over its gas and oil exploration block off the coast of Vietnam.

   China claims virtually the entire mineral-rich South China Sea and has stepped up its military presence there. Other nations such as Vietnam, Philippines and Malaysia have competing claims.

   Any display of naval assertiveness by India in the South China Sea would likely fuel concern that the navies of the two rapidly growing Asian giants could be on a collision course as they seek to protect trade routes and lock in the supply of coal, minerals and other raw material from foreign sources.

   The adjacent countries of China are fretting about a recent Chinese media report on new rules that will allow police in the southern Chinese province of Hainan to board and seize control of foreign ships which “illegally enter” its waters from 1 January.

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