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5.4 billion barrels of oil and 55.1 trillion cf of natural gas in Spratly Islands
 MANILA, Philippines The disputed Reed Bank in the Spratly Islands is estimated to contain up to 5.4 billion barrels of oil and 55.1 trillion cubic feet (tcf) of natural gas, according to a newly published report by the United States Energy Information Administration (EIA).Quoting data from the US Geological Survey, the EIA estimates the disputed Spratly Islands territory may contain significant deposits of undiscovered hydrocarbons. USGS assessments estimate anywhere between 0.8 and 5.4 (mean 2.5) billion barrels of oil and between 7.6 and 55.1 (mean 25.5) tcf of natural gas in undiscovered resources, the EIA said in the Feb. 7 report. Evidence suggests that most of these resources are likely located in the contested Reed Bank at the northeast end of the Spratlys, which is claimed by China, Taiwan, and Vietnam, the EIA also said. In all, the EIA estimates the South China Sea to contain approximately 11 billion barrels of oil and 190 tcf of natural gas in proved and probable reserves. Posted by: Water Modem 2013-02-15 |
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