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Most discovered oil and natural gas fields are in uncontested areas, close to the shorelines. Approximately 3.6 billion barrels (b) of petroleum and other liquids and 40.3 trillion cubic feet (Tcf) of natural gas in proved and probable reserves are in the South China Sea, according to Rystad. Table 1.
The dispute over the Spratly archipelago is strategically very important, because it has geopolitical, economic and legal effects. This feature of islands is located in one of the busiest and most important shipping routes in the world. It has potentially the largest reserves of oil and natural gas.
This essay argues that taking a constructivist approach through discourse analysis as described by Lene Hansen[1] will highlight essential and previously neglected dynamics of the dispute. The second section of the essay therefore applies discourse analysis to the dispute.
Industry sources report that there is almost no oil and less than 100 billion cubic feet of natural gas in proved and probable reserves in the fields near the Spratly Islands. They also estimate that the Paracel Island territory has even less natural gas and no oil.
1 maj 2012 · The disputed South China Sea oil and gas reserves under discussion can only contribute to regional energy security through their capacity to offset demand for imported hydrocarbons. Consequently, such reserves must be assessed in terms of production rate.
1 gru 1997 · Territorial disputes in the South China Sea have been exacerbated by the great potential for oil reserves in the area. The Spratly Islands have been a major object of these disputes. While China and other countries have softened their positions to a degree, questions remain regarding how each country would cooperate in oil exploration in this area.
The territorial dispute over the Spratly Islands is now one of the most serious security issues in the region. It is with this backdrop, multinational oil companies from the US, Japan, and Europe have engaged in offshore oil exploration and development in the area.
