Gov’t: PHL-China joint oil exploration could solve surging oil prices, energy security
The government believes that the possible joint oil exploration between the Philippines and China in the West Philippines Sea will help address surging oil prices and ensure the country’s energy security.
The government is eyeing to sign a formal agreement with China during President Xi Jinping’s visit to the country this year.
However, Malacañang clarified that the agreement will not be immediately implemented pending processes and studies to be undertaken on the matter.
“That’s why we are studying it and the administration is pushing for the joint exploration in the West Philippine Sea because based on the initial study, there is natural gas or diesel especially in what we call the Service Contract No. 72,” said Presidential Spokesperson Sec. Harry Roque. — Rosalie Coz | UNTV News & Rescue