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OIL AND GAS
Top Chinese diplomat to hold talks in Vietnam: Beijing
by Staff Writers
Beijing (AFP) June 17, 2014


Oil arm of Russia's Gazprom prepares for arctic drilling campaign
Moscow (UPI) Jun 17, 2013 - Russian energy company Gazprom Neft said it plans to conduct drilling operations in the northern Pechora Sea during the ice-free months of 2014.

The company said a drilling platform was delivered to the Dolginskoye field in the arctic waters of the Pechora Sea.

"An exploration well will be drilled from the platform during the ice-free months of 2014 to further investigate the field's geological structure and prepare it for full-scale development," the company said in a statement Monday.

Changing weather patterns are leaving parts of the arctic region ice-free for longer periods of time, giving energy companies more time to try to exploit the estimated 90 billion barrels of undiscovered oil and 1.6 quadrillion cubic feet of undiscovered natural gas thought to lie beneath the arctic waters.

Gazprom Neft is the oil arm of the Russian energy company Gazprom, which was the target of Greenpeace demonstrations against arctic exploration this year and last.

Gazprom Neft said its drilling operations in the region are certified as safe. The company estimates the Dolginskoye field holds more than 200 million tons of oil equivalent.

More drilling is planned in the region during the next two years.

China's top foreign policy official is set to hold "candid" talks in Vietnam, Beijing said Tuesday as the countries intensify accusations over a maritime territorial dispute.

Foreign ministry spokeswoman Hua Chunying said State Councillor Yang Jiechi would Wednesday meet Pham Binh Minh, Vietnam's deputy prime minister and foreign minister.

They will "exchange views on issues concerning bilateral relations", Hua said at a regular briefing.

"State Councillor Yang Jiechi will have a candid and in-depth exchange of views with the Vietnamese side during his stay there," Hua said.

"We hope the Vietnamese side will bear in mind the larger interests of bilateral relations and work together with China to properly deal with the current situation."

Relations have plummeted since Beijing sent an oil rig last month to drill in a disputed area of the South China Sea.

The two sides have traded accusations in the increasingly heated row, with each side claiming the other has engaged in aggressive behaviour against its ships in the area, including ramming them.

Anti-Chinese riots sparked by Beijing's dispatch of the rig claimed three Chinese lives in Vietnam last month, according to Hanoi. Beijing says four Chinese citizens died.

Hua said Yang was going to Vietnam in his capacity as chairman of the Chinese side of the China-Vietnam Steering Committee for Bilateral Cooperation.

Asked whether the trip had been previously scheduled or recently arranged she said the committee chairmen meet every year but the precise time was decided on the basis of consultation between both sides.

Yang was previously China's foreign minister. But he moved up to the State Council, the country's cabinet, last year, making him more powerful than the current foreign minister.

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