Indonesia and Vietnam have concluded an agreement on a dispute over a maritime boundary in the South China Sea that has been going on for the past 20 years. This accord will outline the continental shelf boundary and provides a basis for additional oil and gas exploration in the Natuna sea area. The Natuna area, in the South China Sea between the island of Borneo and the Malaysian peninsula, is rich in oil and gas, with a potential 2.8 billion barrels. Indonesia already has a major gas installation in the area that supplies Singapore.
Neither side provided any details on the pact.