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    A formula for the Philippines, China, and Vietnam in the West Philippine Sea-South China Sea and other participants

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    Date
    April 21, 2019
    Author
    De Venecia, Jose C. Jr.
    Metadata
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    Classification code
    MB20190421_14
    Excerpt
    At some point now or sooner than later, the claimants in the South China Sea/West Philippine Sea will have to sit down and agree on a seismic and oil exploration program to be fol­lowed by a definitive oil drilling and development schedule for a satisfac­tory commercial petroleum discovery which is anticipated. This should include a detailed and definitive agreement in the event of marginal hydrocarbon discoveries, non-commercial in volume, and must be followed through by a series of exploration activities in the areas with reasonable looking anticlines or likely oil-bearing structures before the areas are given up, or abandoned, or preserved for other uses by suc­ceeding generations. The anticipated agreement should include sharing of explora­tion expense, the more expensive development costs in the event of commercial discovery, distribution of export petroleum to refineries in the Philippines, China, and Vietnam, and/or third-party international buy­ers, and an agreement on a second-round or third-round of exploration areas nearby or in much farther locations.
    Citation
    De Venecia, J. C. Jr. (2019, April 21). A formula for the Philippines, China, and Vietnam in the West Philippine Sea-South China Sea and other participants. Manila Bulletin, p. 14.
    URI
    http://hdl.handle.net/20.500.12174/6426
    Associated content
    Online version
    Corporate Names
    Department of Environment and Natural Resources (DENR) Association of Southeast Asian Nations (ASEAN)
    Geographic Names
    Philippines China Vietnam West Philippine Sea South China Sea
    Subject
    international agreements Oil and gas exploration hydrocarbons Governments drilling exploration
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    • Manila Bulletin [2470]

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