China is very interested and has already moved in on the Paracels and chased the Vietnamese away. With the advemt of President Obama Viet Nam seems to have lost the implied protection of the US and is trying to make nice to China. I expect China will take full advantage of the situation and windup with all or almost all of the offshore oil and gas.
The rights to the Spartleys will probably be sold by Vietnam to China in a Russian brokered deal.