Gov't pursues PH-China joint oil, gas exploration
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The Philippine hopes to sign with China this year a formal agreement on a joint oil and gas exploration in the West Philippine Sea/ South China SEa to help address the country's fuel requirements and eventually lessen its dependence on imported oil. Presidential spokesman Harry Roque said feasibility studies reveal the presence of oil and natural gas in the West Philippine Sea that is covered by Service Contract 72 which the Philippines wants to tap in the light of continuing rise of prices of oil in the world market. Roque hopes the agreement will be signed in time for the visit of Chinese President Xi Jinping in November.
Montemayor, J. (2018, October 3). Gov't pursues PH-China joint oil, gas exploration. Malaya Business Insight, p. 1.
- Malaya