[kevincarter]

If oil is under international waters, does it belong to any country in particular? Can a company just drill in the middle of the ocean?


Thanks

[NeoPeasant]

If oil is under international waters, does it belong to any country in particular? Can a company just drill in the middle of the ocean?

That's the sort of thing that big navies and military threats and wars are meant to decide.

[coyote]

If oil is under international waters, does it belong to any country in particular? Can a company just drill in the middle of the ocean?

That's the sort of thing that big navies and military threats and wars are meant to decide.

South China Seas and the Sea of Japan will be very interesting regions to keep an eye on. China looks to be militarily muscling its way to dominating the resources there, though on very shaky legal ground.

[rockdoc123]

As I remember International waters refer to being outboard 250 (?)miles from the coastline of the relevant jurisdiction. From my experience I would say this is well beyond areas of geologic interest for oil and gas, given conventional wisdom. Main reasons would be lack of Tertiary reservoirs and a mature source rock.

The issues with jurisdiction usually occur well within the International waters boundary you have competing claims on where borders project into the surrounding ocean/sea. Good example of this would be Malaysia and Vietnam and a more famous one would be the on-going arguments over rights in the Caspian between Russia, Kazachstan, Azerbaijan, Turkmenistan and Iran.

[Dreamtwister]

Good example of this would be Malaysia and Vietnam and a more famous one would be the on-going arguments over rights in the Caspian between Russia, Kazachstan, Azerbaijan, Turkmenistan and Iran.

Or the childish battle between Canada and Denmark over Hans Island.

[nth]

Treaty has it that the sea is owned by everyone and banned drilling and mining on the sea floor.

Continental shelf is not sea floor, so any state can lay claim to it as long as other states do not object. If objection is raised, then there are a myriad of rules to follow and a list of methods to deal with this is available.

The rule that rocdoc mentioned use to be true. Now, it is less so as states like Russia are constantly claiming more and more sea as their economic zone.

[rogerhb]

If oil is under international waters, does it belong to any country in particular? Can a company just drill in the middle of the ocean?

Thanks

Follow the dispute between Timor and Australia.... Australia made an agreement for Timor's oil with Indonesia, now that Timor is independent Australia is not renegotiating.

[nth]

This may seem spurious, but who owns oil that has spilled into the sea? Is it still owned by the spiller, or can it be claimed by whoever scoops it up first? How would salvage laws apply? What if the oil slick washes up on shore?

The one who spills it owns it. You can only salvage and keep it when the owner gives it up. I am not sure about oil spill, but this is true for ships and when shipwrecks happen.

[nth]

If oil is under international waters, does it belong to any country in particular? Can a company just drill in the middle of the ocean?

Thanks

Follow the dispute between Timor and Australia.... Australia made an agreement for Timor's oil with Indonesia, now that Timor is independent Australia is not renegotiating.

Well, they negotiated a partial solution.