|Taiwan-administered Itu Aba, or Taiping Island|
Taiwan will launch oil exploration efforts in waters off Itu Aba Island (Taiping Island, 太平島) next year, in a move that is likely to raise tensions with other claimants to a series of islets in the South China Sea.
During a meeting at the legislature in Taipei yesterday, Bureau of Energy officials confirmed that the Ministry of Economic Affairs’ Bureau of Mines, in cooperation with CPC Corp, Taiwan (CPC, 台灣中油), would send ships to waters near Itu Aba to conduct exploration for potential oil resources next year.
Bureau of Energy Director-General Jerry Ou (歐嘉瑞) told the Foreign Affairs and National Defense Committee that a monthly budget of NT$17 million (US$583,670) would be allocated to fund the efforts.
My article, published today in the Taipei Times, continues here.