New plans are being worked out by Chinese authorities to exploit so-called 'combustible ice' in the South China Sea in 2017.
The suggestion has been made at an international conference on Gas Hydrates here in Beijing.
Zhang Haiqi is a director with the China Geological Survey.
"China is one of the few countries with great prospects for the resource in the world. There are about 10-billion tons of oil equivalent on both the land and sea, which is equal to the total amount of oil and natural gas reserves in China."
'Combustible ice' is essentially solidified methane.
Originally only thought to be found on the outer reaches of the solar system, scientists have since discovered significant pockets of 'combustible ice' underneath the world's sea beds.
One cubic meter of 'combustible ice' has the energy equivalent of over 160 cubic meters of natural gas.
The initial plan is to begin exploiting 'combustible ice' in the South China Sea in the next 3-years.
