The island, along with the rest of the Spratlys, is disputed by four countries on historical, geographic, legal and/or technical grounds, in pursuit of fishing rights, shipping lanes, and the potential of petroleum and natural gas beneath the South China Sea. Although it is anticipated that the South China Sea basin is abundant in oil and natural gas, the waters surrounding Taiping Island have yet to be formally surveyed or extracted. Kuomintang legislator Lin Yu-fang has stated that the Chinese Petroleum Corporation has not excluded the option of prospecting territorial waters in the near future, with the military providing naval escort assistance upon directive from the National Security Council of the Republic of China. Taiping Island is administered under the Municipality of Kaohsiung City, Cijin District, by the Republic of China (Taiwan). Postal service is provided by Chunghwa Post under the assigned area code "819". The Republic of China (Taiwan) military postal service uses the designation "post office branch 68" ("68局") for postage services for the island. The total population of the island is about 600 with no civilians. Land pricing is managed by the Kaohsiung local government, although there have been no cases of actual transactions being made. In 2007, the announced land value adjustments placed the value of the land on Taiping Island at NT$400 per square metre. Prior to 2012, the island's coast guard defense forces held recoil-less guns and mortars. These were planned to be replaced by eight sets of auto-cannons and a number of mortars by the end of August 2012. Facilities Taiping Island has four existing wells. The proportion of fresh water in them is 99.1, 75.8, 97.5, and 96.8 percent, respectively, averaging 92.3 percent. About 65 metric tons of water can be pumped from these wells daily to provide drinking water and meet cooking and everyday needs. Apart from well water, there are water-retaining facilities mainly used for farming. Since December 2014, the island has been powered by a 40 kWp photovoltaic power station with a 612 kW storage facility that will generate an estimated 50MWh per year. The project was divided into two phases: the first phase was completed in December 2011; and the second in December 2014. The entire solar power system will generate an estimated 189,492 kWh per year, saving an estimated 49,000 litres of diesel fuel per year. It was funded by the Ministry of Economic Affairs. The Taiping