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Oil drilling group gets 2-year extension

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Forum Energy Plc has secured a two-year extension for its work program under Service Contract 72, Philex Petrolem Corp., a major shareholder, said on Monday, Jan. 28, 2013.

Forum Energy Plc, which is exploring for oil and gas within the highly contested Recto Bank off the West Philippine Sea, has secured a two-year extension for its work program under Service Contract 72.

Posted: January 28th, 2013 in Editor's Pick,Headlines | Read More »

Resumption of oil-drilling talks seen

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Manuel V. Pangilinan.  INQUIRER file photo

Businessman Manuel V. Pangilinan is hoping to resume by early next year talks with state-owned China National Offshore Oil Co. (CNOOC) on its possible acquisition of a stake in the Recto Bank exploration project off the West Philippine Sea.

Posted: November 19th, 2012 in Headlines | Read More »

MVP group firm on gas drilling plan

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The group of businessman Manuel V. Pangilinan is committed to the drilling work program at the Recto Bank prospect under a gas exploration concession agreement with the Philippines, which is embroiled in a territorial dispute with China in the West Philippine Sea.

Posted: July 23rd, 2012 in Headlines | Read More »

Palace on Recto Bank gas exploration: Sovereignty not an issue

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Presidential spokesman Edwin Lacierda.  DZIQ photo

Malacañang on Thursday said that sovereignty was not an issue when it came to the gas exploration at Recto Bank.

Posted: June 29th, 2012 in Editor's Pick,Featured Gallery,Headlines,Photos & Videos | Read More »

Pangilinan may drop China from exploration venture

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Manuel V. Pangilinan.  INQUIRER file photo

For businessman Manuel V. Pangilinan, the country comes first. The chairman of Philex Petroleum Corp. said he would abandon a proposed partnership with state-owned China National Offshore Oil Corp. (CNOOC) if the sovereignty or commercial issues involving the disputed Recto Bank are not resolved to the satisfaction of his group and the Philippine government.

Posted: June 28th, 2012 in Latest Business Stories | Read More »

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