The greatest long-term economic factor is the presence of oil and gas deposits in
the area around the Spratly Islands. Although little gas or oil has been found to this point,
geologists have estimated that there may be as much as a billion tons of oil and gas (EIA,
2013). One of the complications in oil and gas exploration of the Spratly Islands area has
been the depth of the seabed, which needs advanced technology or development of the
system for exploration. The natural resources, oil and gas, of the Spratly Islands area
have become an increasingly important reason for all claimants and the region nearby to
keep steady on their claims and intention. With regard to the economic aspect, new
sources of oil and gas are necessary to support the country’s development in every
dimension, including economic growth and military capacity. Eventually, the need for
these resources will encourages all involved countries to maintain their intention and/or
seek a proper solution to achieve their goals or benefits. With regard to Southeast Asian
domestic oil production, projected to stay the same or decline as consumption rises, the
region’s countries will look to new sources of energy to meet their domestic demand and
national interest. Thus the Spratly Islands area offers the potential for the discovery of
important natural resources (oil and natural gas), creating an incentive to secure larger
parts of the area for domestic production (