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Oil Plans Changed

Vietnamese coast took Vietnamese
officials by surprise, and some of
them complain bitterly that it is
unfair. One official commented
bitterly last week that Viet Nam
has been signaled out by the U.S.
critics as a focus of U.S. economic
interests, despite the fact that
Thailand and Indonesia had already
divided up their offshore oil zones
among American and other foreign
oil corporations. "They don't
question the investments in other
Southeast Asian countries because
American soldiers aren't fighting
there," he said.

US Interested

Even before the oil investment
law was signed, sixteen American
oil companies had expressed
interest in bidding, along with
several other foreign companies.
Since December 12 more U.S. oil
companies have expressed interest
to the Vietnamese government.

The American companies are
"not enthusiastic" about Vietnam's
still unsteady political climate and
security situation, according to one
American official here.

The U.S. mission here has not
been as concerned about oil
concessions as the Thieu regime,
according to one U.S. source. "To
us, it is only one of a dozen
investment possibilities and it is
much more risky than the others,"