Chinese oil rig found "signs of oil and gas"- Xinhua

SHANGHAI, July 16 Tue Jul 15, 2014 7:42pm EDT

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SHANGHAI, July 16 (Reuters) - A Chinese oil rig near the disputed Paracel Islands in the South China Sea found "signs of oil and gas", the official Xinhua news agency said, more than two months after its deployment to waters also claimed by Vietnam hurt ties with Hanoi.

The China National Petroleum Corp, China's dominant oil and gas producer, "will assess the data collected and decide on the next step", Xinhua said, quoting a company statement.

The Vietnamese government has said the $1 billion deepwater rig was in its 200-nautical-mile exclusive economic zone and on its continental shelf. China has said the rig was operating completely within its waters. (Reporting by John Ruwitch; Editing by Paul Tait)

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