Presentation- New and Developing Offshore Oil and Gas Fields in the Southern China Sea

Presentation- New and Developing Offshore Oil and Gas Fields in the Southern China Sea

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Click to edit Master subtitle style  2/17/11 New and Developing Offshore Oil  and Gas Fields in the Southern  China Sea By: Perri Canner And Jake Lader
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 2/17/11
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 2/17/11 Why Is It So Popular? ± The South China Sea is rich in natural resources such as  oil and natural gas, but ownership of the resources is in  dispute ± Asia's robust economic growth has boosted demand for  energy in the region. According to EIA estimates, oil  consumption in developing Asian countries is expected to  rise by 1.7 percent annually from 14.8 million barrels per  day (MMbbl/d) in 2004 to nearly 29.8 MMbbl/d by 2030. ± China is expected to account for almost half the growth.
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 2/17/11 Who Owns It? ± The United Nations Convention on the Law of the Sea  (UNCLOS) has not yet resolved ownership disputes in  the South China Sea.  ± The 1982 convention created a number of guidelines  concerning the status of islands, continental shelves,  exclusive economic zones (EEZ), enclosed seas, and  territorial limits.  ± UNCLOS states that countries with overlapping claims  must resolve them by good faith negotiation.
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 2/17/11 Does China Have Priority Over  ± China National Offshore Oil Corporation (CNOOC) is  responsible for developing China's rich offshore oil and  gas reserves.  ± CNOOC explores and develops offshore oil and gas, and  processes and sells these products by itself or jointly with 
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This note was uploaded on 02/16/2011 for the course GEOSCI 154 taught by Professor Alt during the Fall '10 term at University of Michigan.

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Presentation- New and Developing Offshore Oil and Gas Fields in the Southern China Sea

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