Philippines must find a way to explore oil and gas in the South China Sea despite no agreement ChinaPresident Ferdinand Marcos Jr. said on Thursday, emphasizing his country has the right to exploit energy reserves in dispute Waterway.
“It’s a big deal for us, that’s why we need to fight (for what’s ours) and take advantage if there’s really oil there,” Marcos told reporters. reporter.
Negotiations on joint energy exploration between Manila and Beijing in the South China Sea have been terminated, the previous government said in June, citing constitutional constraints and issues of sovereignty.
“That’s the barrier, it’s hard to see how we can address that. I think there might be other ways to not necessarily be G-to-G (government to government),” Marcos said.
The Chinese Embassy in Manila did not immediately respond to a request for comment.
Marcos’ remarks came after his foreign affairs secretary said in August Manila was open to new negotiations with China over oil and gas exploration and that an agreement with China or any other country must comply with Philippine laws.
The Philippines relies heavily on imported fuels for its energy needs, making it vulnerable to supply shocks and soaring oil prices that have contributed to high inflation. in nearly 14 years.
During a three-day visit last week, US Vice President Kamala Harris affirm the defense commitments of the United States to the Philippines and reiterate donate for a 2016 arbitration award nullifying Beijing’s expansive South China Sea claims.
The ruling, which China refuses to recognize, claims that the Philippines has sovereign rights to exploit energy reserves inside its 200-mile (321 km) Exclusive Economic Zone.
Marcos said on Thursday “we will have some more specifics” to announce early next year on US proposals to access Philippine military bases under the Enhanced Defense Cooperation Agreement. 2014. Washington has proposed adding more sites to the five existing sites under the EDCA, allowing the rotation of US military ships and aircraft at mutually agreed bases.
Philippine company PXP Energy Corp, which has an exploration license in Reed Bank, a disputed area, has been negotiating with China National Offshore Oil Corporation for a joint venture. But the conflicting claims of Manila and Beijing prevented them from conducting further drilling and reaching an agreement with CNOOC.
