Philippines bids out China-claimed oil prospects
By Amy R. Remo
The Philippines on Tuesday offered three oil and gas exploration contracts in the disputed West Philippine Sea (South China Sea), including two in areas claimed by China.
The Philippines on Tuesday offered three oil and gas exploration contracts in the disputed West Philippine Sea (South China Sea), including two in areas claimed by China.
Businessman Manuel V. Pangilinan plans to expand the consortium undertaking gas exploration in the Recto Bank, which is part of the territory disputed by the Philippines and China, to “internationalize” and “de-politicize” the concession area while boosting the financial and technological muscle for the project.
The Philippines has accepted bids for five oil and gas exploration contracts, setting another tender in July for three other blocks between its western coast and the West Philippine Sea (South China Sea) despite China’s claim to those areas.
