THE PHILIPPINES EXPRESSED optimism that a joint exploration deal for oil and gas reserves in the disputed South China Sea or West Philippine Sea – WPS as the Filipino government calls it – will be finally signed during Chinese President Xi Jinping’s visit in Manila next month.
“We’re doing all we can to make sure that when President Xi comes here, we can sign the joint exploration na magsimula na tayo na maghanap ng natural gas at langis at sa ganun po magkaroon na tayo ng energy security,” Presidential Spokesperson Harry Roque said.
Xi is expected to visit the Philippines in November as a follow-up to the high-level economic meetings conducted by the two countries’ economic and infrastructure managers in Beijing.
Roque described the joint exploration as the most important agreement that the Philippines and China are hoping to achieve during Xi’s visit, to reduce the country’s dependence on imported fuel products.
“Of course, ito ang pinakaimportanteng agreement dahil nga sa pagtaas ng preso ng langis na nagdadahilan sa pagtaas ng lahat,” he said. “Alam naman po (natin na) lahat tayo naaapektuhan dyan pero hanggang makakuha po tayo ng langis ay talagang wala tayo magawa dahil iniaangkat natin ang langis.”
Roque said initial research and studies show that oil and gas reserves can be found in the disputed WPS particularly in the so-called Service Contract 72 (Recto Bank). “So ito po ang naging malinaw: kinakailangan na po nating isulong ang joint exploration. Isantabi natin ang hidwaan dahil according to the preliminary studies, meron pong laman ang SC 72,” he said, adding, an executive agreement for joint exploration in the WPS is crucial since the supply of Malampaya deep water gas-to-power project is projected to last only until 2029.
“So we’re hoping that by 2027, production there at SC 72 will already start,” he said. China has reportedly expressed willingness to enter into a 60-40 joint exploration deal in favor of the Philippines. Aside from Recto Bank, Service Contract 57 or Calamian is also being considered as areas of possible joint exploration. (Jelly Musico)
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