Philippines Eyes Exploration Deal with China in S.China Sea

Posted by Joseph Keefe
Monday, April 9, 2018
The Philippines is looking to seal a pact with China within a few months to jointly explore for oil and gas in a part of the busy South China Sea waterway claimed by both countries, a Philippine official said on Monday.
In February, the two countries agreed to set up a special panel to work out how to jointly explore for offshore oil and gas in areas both sides claim, without needing to address the touchy issue of sovereignty.
"We're trying to see if we can achieve an agreement, hopefully within the next couple of months," Jose Santiago Santa Romana, Philippine ambassador to the People's Republic of China, told a news conference held on China's island province of Hainan.
There is political willingness to land a deal, but both parties could take as much time as needed to ensure the goals are met, Santa Romana said at the event, aired live on Facebook, adding that the Philippines aimed to boost its energy security.
Beijing claims most of the South China Sea, a key trade route with areas believed to hold large quantities of oil and natural gas. Parts of it are subject to competing claims from Brunei, Malaysia, Taiwan and Vietnam, besides the Philippines.
Philippines President Rodrigo Duterte on Monday flew to China for the Boao Forum for Asia, and will meet Chinese President Xi Jinping on Tuesday.
Last month, the Philippines identified two areas in the South China Sea where joint exploration for oil and gas may be undertaken with China.
But any potential deals between Manila and Beijing should be agreed with a company and not the Chinese government, the presidential spokesman said.
The idea of joint development dates from 1986, but disputes and the sovereignty issue have kept it from materialising.
In 2016, the Permanent Court of Arbitration in the Hague ruled that portions of the contested areas were part of the Philippines' 200 nautical mile Exclusive Economic Zone, and Manila had sovereign rights to resources there. China refuses to recognise the ruling.

Reporting by Neil Jerome Morales 

Categories: Contracts Government Update Legal Maritime Safety Maritime Security Offshore Energy

Related Stories

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

PXGEO Nets First Seismic Survey off Malaysia

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Saipem Marks First Steel Cut for Tangguh UCC Project at Karimun Yard

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

Allseas-Boskalis Consortium Bags $1.4B Offshore Gas Pipeline Job in Taiwan

CNOOC Brings New Offshore Gas Field On Stream

Yinson, PTSC Get $600M Contract for Vietnam-Bound FSO

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

China Rolls Out 17MW Floating Wind Turbine Prototype

Current News

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com