本文探討影響中美在中國沿海進行海域油氣勘探合作的主要變數。尼克森政府時期，中美開始海域油氣勘探上的接觸。改革開放與中美建交後，中國擴大與美國在海域油氣勘探上的合作。不過，中國和周邊國家存在領土與邊界爭議。北京威脅使用武力，對美國政府與石油公司產生影響。《聯合國海洋法公約》是另一個重要變數，特別是在蘇聯瓦解後。2008 年，中美開始進行有關投資保障協定的談判。一般而言，雙邊投資協定要求簽約國對外來投資者提供保護。2012 年，歐巴馬政府完成了美國投資保障協定範本的修訂，並修正領土的定義以明確納入領海與相關領域。如果中美簽訂包含領海 相關條款及海洋油氣產業的雙邊投資保障協定，此協定將成為影響中美在中國海域油氣勘探合作的新變數。

This article discusses major factors affecting offshore oil and natural gas exploration cooperation between the People’s Republic of China and the United States along China’s coast. Contact between the U.S. and China regarding offshore oil and natural gas exploration began in the Nixon Administration. After the reform and opening-up policy and the establishment of Sino-U.S. diplomatic relations, China expanded cooperation with the U.S. in offshore oil and natural gas exploration. However, there are existing territorial and boundary disputes between China and its maritime neighbors. Beijing has threatened to use force in the East China Sea and South China Sea, and this has affected the U.S. government and oil companies. United Nations Convention on the Law of the Sea has been another important factor, especially since the collapse of the Soviet Union. The U.S. and China started their bilateral investment treaty ( BIT ) negotiations in 2008. In general, the BIT requires the contracting states to protect foreign investors. The Obama Administration completed a revision of the U.S. model bilateral investment treaty and modified the territory term to expressively include territorial seas and related areas in 2012. If the U.S. and China can sign a BIT that includes clauses related to territorial waters and mention of the offshore oil and natural gas exploration industry, the BIT will be a new factor that affects offshore oil and natural gas exploration cooperation between them along China’s coast.