Posted on 09/06/2008 10:58:41 AM PDT by gogov
Taipei, Sept 03: Taiwan called on Wednesday for expansion in cooperation on oil exploration and development with China amid warming ties between the two rivals.
The CPC Corp, Taiwan, the island's state-run oil refiner, said it has proposed to work with China's CNOOC Ltd to explore possible oil reserves in the East China Sea.
"We have expressed the willingness to CNOOC to work together in the East China Sea," CPC Vice President Chu Shao-hua told media.
"CPC is waiting for CNOOC's response, hoping both sides will kick off talks on the proposal," he said.
CPC and CNOOC set up a joint venture in 2002 to explore oil in the Tainan Basin of the Taiwan Strait.
The Tainan Basin cooperation, however, came to a halt in 2006 amid escalating cross-strait tension under the rule of Taiwan's pro-independence Democratic Progressive Party (DPP).
The Tainan Basin cooperation deal, which will expire in 2010, resumed after the China-friendly Kuomintang defeated the DPP in March presidential elections.
Chu said CPC and CNOOC are looking for a location to drill a second well in the Tainan Basin after the first well failed to find anything.
Moreover, Chu said both sides are ready for talks to form a joint venture to explore in the Nanjih Islands Basin, also in the Taiwan Strait.
In 2002, the two companies agreed to survey in the Nanjih Basin but the agreement stalled as the then Taiwanese government opposed it.
Everybody’s drilling for more oil except U.S.
When we get fixated on what the MSM and the Democrats say about her and do not focus on what she stands for, we lose the debate.
You can not win this game on defense. You can not win this game by playing it their way.
When you hear someone say something about Palin’s daughters baby or her family, say, yea, but she is a strong advocate for more drilling and I support that.
Stop posting all these ridicules posts about Palin and start framing the debate on the issues. She stands for plenty of good, solid, popular issues.
Drill Baby Drill!
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