PHL eyes joint exploration with China to address high oil prices

Economy & Tourism

“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 during the October 3 press briefing.

Chinese President Xi Jinping is scheduled to visit Manila next month.

According to Roque, the joint exploration deal is one of the most important deal the Philippines is eyeing with China to address Philippines’ dependence on imported oil products.

“Of course, ang pinakaimportanteng agreement dahil nga sa pagtaas ng presyo ng langis na nagdadahilan sa pagtaas ng lahat,” Roque said. “Alam naman po, lahat tayo naaapektuhan dyan pero hanggang makakuha po tayo ng langis ay talagang wala tayo magawa dahil iniaangkat natin ang langis.”


“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.

“So we’re hoping that by 2027, production there at SC 72 (Service Contract 72 Recto Bank) will already start,” he said.

Source: http://www.pna.gov.ph/articles/1049801