This just out... Looks like India is not backing down from China's claims and is moving ahead... China is losing face on several fronts...
India-Vietnam ink pact to expand oil exploration in South China Sea Niticentral Staff20 Nov 2013
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India | South China Sea | Vietnam
India and Vietnam on Wednesday inked an agreement for developing and expanding oil exploration projects in disputed South China Sea including allocation of new oil blocks.
The agreement, along with seven more, were inked after Prime Minister Manmohan Singh and Nguyen Phu Trong, General Secretary of the Vietnamese Communist Party, held talks on key bilateral and regional issues and ways to enhance bilateral strategic ties.
The MoU between Vietnam Oil and Gas group and ONGC Videsh Limited was inked for the association in the field of exploration, development and production of petroleum resources between the two countries for new investments by OVL in oil and Gas blocks in Vietnam.
Under the MoU, the PetroVietnam, Vietnam state company, was also invited to participate in open blocks in India and in third countries.
OVL is already in joint venture with PetroVietnam in three oil blocks close to the disputed Spratly Islands –known as Nansha Islands in China. Today’s pact may not go down well with China which has time and again objected to India’s oil exploration projects in the region.
Despite China’s objections to Indian oil exploration in South China Sea, Vietnam has been asserting that India has the right to pursue oil exploration there as they were within Vietnamese “exclusive economic zone”.
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