The Ministry of Economy, Trade and Industry granted Teikoku Oil Co. rights Thursday to explore in disputed waters in the East China Sea near Chinese drilling platforms.
METI, with tacit approval from Prime Minister Junichiro Koizumi, gave Teikoku the go-ahead to drill in three areas totaling 400 sq. km in waters midway between Okinawa and mainland China.
Teikoku will begin exploring the area within six months, measuring the size of any natural gas or oil deposits in the three areas and assessing the profitability of retrieving the resources.