IBDU veteran, Andrew Derman Chairs Boundary Disputes Summit in Ho Chi Minh City
Following PetroVietnam protests of Chinese company's international oil bidding, constructive high-level meeting to resolve disputes will ensue at International Boundary Disputes and Unitisation in E&P.
- (1888PressRelease) September 11, 2012 - HO CHI MINH CITY - In the race to produce oil from disputed boundaries in the South China Sea, the challenge lies in the fact that there may just be too many solutions to agree and the clock is ticking while billions of dollars are lost from delaying the exploration of up to 3.79 trillion cubic meters of undiscovered conventional gas and estimated up to 213 billion barrels of oil. The Center for Energy Sustainability and Economics will be running the second annual International Boundary Disputes and Unitisation Summit on 17-18 October 2012 at the Sheraton, Ho Chi Minh City, Viet Nam.
"It seems like a 'Finders, Keepers' race to produce oil from disputed boundaries in South China Sea," says Frank Mercado, Director, Center for Energy Sustainability and Economics. "But when we met last year and examined closely, governments, state and independent negotiators and oil & gas companies have concluded that there are means to peaceably explore and commercialise exploration units in disputed areas."
Chairing the summit is international boundary disputes veteran, Andrew Derman, Partner, Thompson & Knight. "Tensions have escalated as Southeast Asian countries compete over territorial claims involving the enormous oil and gas potential of the Spratly Islands and the other territories in the South China Sea. Countries fear that that their neighbours will unilaterally exploit, without sharing, valuable oil and gas deposits. There is another way -- a peaceful way -- that encourages the exploitation and sharing of such natural resources. Countries can agree to disagree over their territorial borders and use commercial methods, that transcend politics, to find solutions to allow oil and gas to be commercialized," says Mr Derman. Derman has worked in over 50 countries assisting clients in commercializing oil and gas that straddle field borders in Europe, North America, South America, Africa, Australia and Asia.
Register today by visiting www.arcmediaglobal.com/ibdu or emailing the IBDU Secretariat at ibdu ( @ ) arcmediaglobal dot com for more info dot
The Center for Energy Sustainability and Economics is an industry research centre (IRC) that works to bring top executives together in communities of learning and practice to act as a catalyst for generating high-value energy business insight and channel top expertise to where the world needs it most.
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