A Chinese deep-sea oil rig has completed its first overseas drilling operation in the Bay of Bengal. The drilling began in February, lasted 58 days and set a new Chinese record for deep-sea drilling. Drilling to 5-thousand metres under the sea deeper than any other Chinese oil rig. And that wasn't the only record.
The company didn't review where the rig is drilling or who is chartering it.
The same drilling rig has previously drilled in waters claimed by both China and Vietnam in the South China Sea, sparking protests in Vietnam.
Ocean reserves account for more than 70% of global oil and gas resources. With its huge energy demand, China has been expanding its deepwater drilling.
China imports more than half of its oil and nearly a third of its natural gas. This dependence poses a huge risk to the country’s energy security. Experts said more oil rigs are needed to increase long-term energy independence.
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