ASIAN TALKS SEEN VITAL TO OIL FIRMS
Florida Automotive Journal
The negotiations recently in Bangkok between Thailand, Malaysia and Indonesia on the delimitation of the continental shelf between the three countries are of particular significance to those who are prospecting for oil in these areas.
No major difficulty is anticipated, but it is hoped that agreement will be reached on the delimitation both in the North of the Malacca Straits and the South of the South China Sea in order that oil exploration in these areas can be expedited.
Indonesia and Malaysia have already reached agreement on such delimitation in the southern part of the Malacca Straits. In the South China Sea Thai concessions for BP and Malaysian concessions to Esso could be affected. The Thais have yet to give any concessions off their western coast, while Malaysia has tentatively given a concession to Southeast Asia Gulf off its northwestern coast.
Present Indonesian concessions in that area still hug the Sumatran coast line.
With regard to the as yet unfinalized Malaysian concessions off the western side of the west Malaysian coast the minister for rural and national development has said that two of the three companies—Gulf, Mobil and Amoco have agreed to government participation. The finalizing of the concessions has been long delayed because Malaysia has been seeking better terms.
|Connect with The Crittenden Automotive Library|