Department of Foreign Affairs (DFA) Secretary Alan Peter S. Cayetano said Tuesday he looks forward to a joint Philippine-China gas and oil exploration agreement in the disputed areas in the South China Sea, ‘’hopefully’’ in the next two months. Interviewed by Manila Bulletin after appearing before the Senate finance committee to defend DFA’s proposed 2019 R27.5billion budget, Cayetano said the Philippines and China agreed not to put deadlines on their draft exploration agreement. “Yes, the 60-40 sharing (based on a provision of the Philippine Constitution on investments) will be followed. We are working on a framework for the Philippines and China. Not just on a provision of law but equity,” he said.

Casaruyan, M. B. (2018, August 29). South China Sea exploration pact shaping up. Manila Bulletin, p. 3.