PXP Energy stands by to resume drilling of Recto Bank oil block
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PXP Energy Corp. has set its eyes on exploring an oil block within the disputed West Philippine Sea that is estimated to bear as much as 3 trillion cubic feet of gas resources. Led by businessman Manuel V. Pangilinan, the listed gas and oil firm operates the area through Forum (GSEC 101) Ltd., a unit of Forum Energy Ltd., which in turn is one of its subsidiaries. The block is located within the Department of Energy’s (DoE) Service Contract (SC) 37 in Recto Bank. Exploration activities in the area are currently suspended upon declaration of a force majeure.
Ang, A. J. (2020, July 16). PXP Energy stands by to resume drilling of Recto Bank oil block. BusinessWorld, p. S1/3.
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Domingo, Ronnel W. (Philippine Daily Inquirer,
July 14, 2017, on page A10)The Department of Energy (DOE) is ready to resume drilling for oil and natural gas on Recto Bank in the West Philippine Sea, but when work will restart is up to the Department of Foreign Affairs (DFA), which suspended the ...
Flores, Alena Mae S. (Manila Standard,
January 4, 2019, on page B1)The Energy Department officially recommended to the Department of Foreign Affairs the lifting of the moratorium on oil and gas exploration in the West Philippine Sea amid the enhanced relations between China and the ...
Ocampo, Satur C. (The Philippine Star,
March 10, 2018, on page 11)Last week President Duterte announced that his administration was considering China’s offer to jointly explore an undisputed Philippine territory for potential energy deposits. He was referring to an area off Busuanga, ...