JOINT DEVELOPMENT OF HYDROCARBON RESOURCES IN THE SOUTH CHINA SEA. Towards Strengthening Regional Cooperation in the Spratly Islands.

Abstract

The complexity of the South China Sea (SCS) disputes matched with the tremendous exploitation potential of hydrocarbon resources have stunted the development of economic activities in the Spratly Islands for many years. The challenge facing the international community in this regard borders on how to manage or resolve the disputes in such manner that economic growth is not impeded, and the marine environment is protected and preserved. This thesis therefore argues that Law of the Sea has set the framework for cooperation over hydrocarbon resources in the Spratly Islands. This thesis also argues that the provisions of Article 123 of UNCLOS read together with paragraph 3 of Articles 74 and 83 of UNCLOS require all coastal States to cooperate in implementing a joint development agreement when seeking to exploit in disputed maritime areas, and to refrain from unilateral actions that may jeopardize or hamper the interest of States at the final delimitation.