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OIL AND GAS
China oil rig move 'provocative,' US says
by Staff Writers
Washington (AFP) May 06, 2014


Iran maintains ties to Chinese energy firms
Tehran (UPI) May 6, 2013 - Chinese companies are still welcome in Iran's energy sector, but those not meeting their obligations are a source of frustration, the oil minister said Tuesday.

Iranian Oil Minister Bijan Zanganeh last week said a contract with China National Petroleum Corp. for development of the South Azadegan oil field was torn up because the company wasn't meeting Iran's expectations at a field said to hold more than 40 billion barrels of oil.

The minister said Tuesday there was a continued interest with working with Chinese companies, though the government was so far not happy with their performance.

"[The] ministry has by no means any intention of removing Chinese companies and investors from [Iran's] petroleum industry, but Iran has ended its cooperation with the Chinese firms that have not fulfilled their obligations in some projects," he said.

CNPC was given a contract from the Iranian government to develop the oil field straddling the border with Iraq in 2009. Chinese companies, including CNPC, are working with Iran on development of the South Pars gas field in the Persian Gulf.

The United States on Tuesday warned China that a decision to move a deep-sea oil rig into disputed waters in the South China Sea was a "provocative" step which it was monitoring closely.

"We're looking carefully into this matter," State Department deputy spokeswoman Jen Psaki told reporters.

"Given the recent history of tensions in the South China Sea, China's decision to operate its oil rig in disputed waters is provocative and unhelpful to the maintenance of peace and stability in the region."

Vietnam has labeled China's decision "illegal" and demanded the rig be withdrawn.

The China Maritime Safety Administration issued a unilateral navigational warning on its website saying the rig would be drilling in the South China Sea close to the Paracel Islands -- which are controlled by China but claimed by Vietnam.

Psaki said the renewed regional tensions highlighted the "need for claimants to clarify their claims in accordance with international law and reach agreement about what types of activities should be permissible within disputed areas."

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