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.
Photo: CNA
Ou said that as Taiwan is almost entirely dependent on imports for its oil supply, it was imperative for the nation to diversify its energy sources.
Though unproven, the South China Sea is believed to contain important oil and gas resources. Taiwan, China, Vietnam, the Philippines, Malaysia and Brunei all lay claim to parts of the area.
Administered by Taiwan, Itu Aba is the largest islet in the disputed Spratly Islands (Nansha Islands, 南沙群島). It lies about 1,400km from Greater Kaohsiung.
In 2008, Taiwan finished constrcution of a 1,150m airstrip on the island. Earlier this year, the Coast Guard Administration — which is mandated with defending sovereignty over the island — augmented its equipment on Itu Aba with a supply of T63 120mm mortar systems and L/60 40mm anti-aircraft guns, sparking protests among other claimants, including Vietnam and the Philippines.
Asking for a progress report, Chinese Nationalist Party (KMT) Legislator Lin Yu-fang (林郁方), a strong supporter of Taiwan playing a more muscular role in the area, was assured that the plan had advanced past the “paperwork phase” and would be initiated as early as next month.
It has yet to be confirmed whether the exploration boats will be accompanied by coast guard vessels.
KMT Legislator Chen Cheng-hsiang (陳鎮湘) said the government should actively mine the waters near the Spratlys and the Pratas Islands (Dongsha Islands, 東沙群島) and establish a forward base in the area to oversee energy, fishing and environmental protection.
He also said a multilateral center should be established to lower the risks of sovereignty disputes with other countries.
On March 22, two coast guard speedboats were dispatched to intercept a pair of Vietnamese patrol vessels that had entered waters near Taiping, prompting the Ministry of Foreign Affairs to file a protest with Hanoi.
Two other ships entered waters near the island on March 26. The coast guard subsequently denied reports that shots had been fired during the incident.
Taiwan is projected to lose a working-age population of about 6.67 million people in two waves of retirement in the coming years, as the nation confronts accelerating demographic decline and a shortage of younger workers to take their place, the Ministry of the Interior said. Taiwan experienced its largest baby boom between 1958 and 1966, when the population grew by 3.78 million, followed by a second surge of 2.89 million between 1976 and 1982, ministry data showed. In 2023, the first of those baby boom generations — those born in the late 1950s and early 1960s — began to enter retirement, triggering
ECONOMIC BOOST: Should the more than 23 million people eligible for the NT$10,000 handouts spend them the same way as in 2023, GDP could rise 0.5 percent, an official said Universal cash handouts of NT$10,000 (US$330) are to be disbursed late next month at the earliest — including to permanent residents and foreign residents married to Taiwanese — pending legislative approval, the Ministry of Finance said yesterday. The Executive Yuan yesterday approved the Special Act for Strengthening Economic, Social and National Security Resilience in Response to International Circumstances (因應國際情勢強化經濟社會及民生國安韌性特別條例). The NT$550 billion special budget includes NT$236 billion for the cash handouts, plus an additional NT$20 billion set aside as reserve funds, expected to be used to support industries. Handouts might begin one month after the bill is promulgated and would be completed within
The National Development Council (NDC) yesterday unveiled details of new regulations that ease restrictions on foreigners working or living in Taiwan, as part of a bid to attract skilled workers from abroad. The regulations, which could go into effect in the first quarter of next year, stem from amendments to the Act for the Recruitment and Employment of Foreign Professionals (外國專業人才延攬及僱用法) passed by lawmakers on Aug. 29. Students categorized as “overseas compatriots” would be allowed to stay and work in Taiwan in the two years after their graduation without obtaining additional permits, doing away with the evaluation process that is currently required,
IMPORTANT BACKER: China seeks to expel US influence from the Indo-Pacific region and supplant Washington as the global leader, MAC Minister Chiu Chui-cheng said China is preparing for war to seize Taiwan, Mainland Affairs Council (MAC) Minister Chiu Chui-cheng (邱垂正) said in Washington on Friday, warning that Taiwan’s fall would trigger a regional “domino effect” endangering US security. In a speech titled “Maintaining the Peaceful and Stable Status Quo Across the Taiwan Strait is in Line with the Shared Interests of Taiwan and the United States,” Chiu said Taiwan’s strategic importance is “closely tied” to US interests. Geopolitically, Taiwan sits in a “core position” in the first island chain — an arc stretching from Japan, through Taiwan and the Philippines, to Borneo, which is shared by