Philippines’ PNOC aims to start South China Sea venture with CNOOC by 2021, Energy & Commodities

Tue, Oct 20, 2020 – 4:41 PM [MANILA] The president of the exploration arm of the Philippine National Oil Company (PNOC) said on Tuesday the company aimed to start an energy exploration venture with China National Offshore Oil Corp (CNOOC) in the South China Sea by 2021. PNOC was awarded Service Contract 57 by the Department of Energy in 2005 covering the Calamian oil and gas prospect, near the Philippines’ Malampaya natural gas discovery. Service Contract 57 is among five Philippine exploration projects that can now proceed following President Rodrigo…

Philippines’ PNOC aims to start S.China Sea venture with CNOOC by 2021

MANILA, Oct 20 (Reuters) – The president of the exploration arm of the Philippine National Oil Company (PNOC) said on Tuesday the company aimed to start an energy exploration venture with China National Offshore Oil Corp (CNOOC) in the South China Sea by 2021. PNOC was awarded Service Contract 57 by the Department of Energy in 2005 covering the Calamian oil and gas prospect, near the Philippines’ Malampaya natural gas discovery. Service Contract 57 is among five Philippine exploration projects that can now proceed following President Rodrigo Duterte’s decision to…

Philippines to restart oil and gas exploration in South China Sea

The Philippines will resume oil and gas exploration in the South China Sea, in a move that will test how far the country and Beijing are willing to compromise over rival maritime claims and the US’s resolve to back Manila. “We trust China will respect our sovereign decision,” Alfonso Cusi, energy secretary, said on Friday about the move to end a six-year moratorium on resource exploration in the disputed waters. The administration of former President Benigno Aquino III suspended exploration and drilling activities in the disputed sea in 2014 amid…

Philippines says lifting South China Sea oil exploration moratorium a unilateral move

MANILA/BEIJING (Oct 16): The Philippines energy secretary said on Friday the government’s decision to lift a six-year-old moratorium on oil and gas exploration in the South China Sea was a unilateral move, as China said it hoped the nations could work together on projects. Alfonso Cusi also told a media briefing the move will not affect a memorandum of understanding between the two countries on a possible joint development in the disputed waters. President Rodrigo Duterte has lifted the moratorium, imposed in 2014 due to a territorial dispute with China, paving the way for three projects to…

China hopes to work with Philippines on South China Sea energy projects

Reuters Posted at Oct 16 2020 03:56 PM BEIJING – China hopes it can work together with the Philippines in jointly developing energy projects in the South China Sea, foreign ministry spokesman Zhao Lijian told a daily briefing on Friday. Philippines President Rodrigo Duterte has lifted a moratorium on petroleum exploration in the South China Sea, paving the way for three projects to resume, including a possible joint venture with China. More details to follow. ANC, ANC Top, South China Sea, West Philippine sea, joint exploration, Rodrigo Duterte, joint venture …

Philippines, China seek to jointly develop energy projects in South China Sea, World News

The Philippines government on Friday lifted the moratorium on oil and gas exploration in the South China Sea amid talks with China over the disputed region. Also Read: China protests US Navy’s ‘provocative actions’ in South China Sea Philippines had stopped drilling in the disputed waters in 2014, however, President Rodrigo Duterte began talks with China two years ago to jointly explore in the South China Sea. “Now that the moratorium is lifted, I’m sure that will expedite the discussions,” Energy Secretary Alfonso Cusi said. Chinese foreign ministry spokesman Zhao Lijian said: “China…

Will defend rights in South China sea: Philippines

The Philippines is ready to defend the oil and gas exploration it has decided to resume in its internationally recognised waters in the disputed South China Sea and will not cede that right to any nation, the energy chief said on Friday. The Department of Energy announced on Thursday that President Rodrigo Duterte has approved its recommendation to lift a 6-year-old moratorium on energy exploration in three offshore areas west of the Philippines, including in potentially oil- and gas-rich Reed Bank, which China also claims. Companies with government contracts have…

Philippines “unilaterally” opts to resume South China Sea oil exploration

The Philippine government said Friday that its decision to resume oil exploration in the disputed South China Sea was a “unilateral” move taken without consultation with China. The Energy Department said Thursday that President Rodrigo Duterte had approved the lifting of a six-year moratorium on oil exploration in the contested waters off Palawan Island in the country’s west. Philippine President Rodrigo Duterte speaks at a press conference in Davao on the country’s Mindanao Island on Oct. 6, 2019. (Kyodo)  Energy Secretary Alfonsi Cusi has cited the impending depletion of a…

China hopes to work with Philippines on S.China Sea energy projects

BEIJING, Oct 16 (Reuters) – China hopes it can work together with the Philippines in jointly developing energy projects in the South China Sea, foreign ministry spokesman Zhao Lijian told a daily briefing on Friday. Philippines President Rodrigo Duterte has lifted a moratorium on petroleum exploration in the South China Sea, paving the way for three projects to resume, including a possible joint venture with China. (Reporting by Gabriel Crossley; editing by John Stonestreet) Source link