BEIJING, June 18 (Xinhua) -- It is reported by the website run by Global
Times that Chinese companies welcomed the participation of Japanese legal person
in the development of the Chunxiao gas field in accordance with Chinese laws.
Companies or legal persons of both countries will negotiate in line with
Chinese law governing cooperation with foreign enterprises in the exploration
and exploitation of offshore petroleum resources.
Liu Nanlai, a research fellow with the law institute of the Chinese Academy
of Social Sciences, said that such cooperation is a way for Chinese companies to
attract foreign capital in compliance with the Regulations of China on the
Exploration of Offshore Petroleum Resources in Cooperation with Foreign
Enterprises.
Liu said the exploration of Chunxiao gas field is China's assertion of
sovereign rights in its inalienable sea water.
The Japanese legal person, who abides by Chinese laws, could gain the
qualification of participating in the development of the Chunxiao gas field
through signing commercial contracts. This is virtually the same as foreign
companies bidding for the gas exploration of the Chinese oil companies, said
Liu.
"So far, Chinese oil companies have carried out such cooperation with
foreign oil companies many times and achieved good results," Liu said.
He said, such cooperation is the first step of joint development of the
East China Sea, which will be conducted in the transitional period before the
delimitation of the area.
As a result, the joint development of the East China Sea cannot be carried
out according to Chinese or Japanese laws alone, but needs the two sides to make
special arrangements through negotiations and to sign agreements, said Liu.