Harvest Natural Resources Inc. (HNR) was sued by dozens of Taiwan residents seeking to stop the company from developing plans to search for petroleum and natural gas in an area of the South China Sea.
The company found more than 500 million barrels of oil and 7.5 trillion cubic feet of natural gas in an area of the sea that is partially located in the economic zone of the Sinnan Islands, “whose natural and economic resources belong to the people of Taiwan,” according to the complaint filed yesterday in U.S. District Court in Houston.