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It's time gov't lifts oil exploration ban in West PHL Sea, says MVP


In the face of warming relations between China and the Philippines, business tycoon Manuel V. Pangilinan on Thursday said the government should allow drilling and exploration activities to resume in the West Philippine Sea.

"I think it's about time for us to engage the government, particularly Secretary Cayetano, whether we could actually get the government to allow us to restart the works that were postponed," Pangilinan told reporters on the sideline of a press briefing in Pasig City.

Former Senator Alan Peter Cayetano is the current foreign affairs secretary.

"Because all of the pronouncements appeared to have been made between the Philippines and China are moving in positive directions," Pangilinan noted.

In 2015, the Department of Energy suspended all drilling and exploration works in disputed waters, particularly in parts of the West Philippine Sea covered by Service Contract (SC) 72 in the Reed Bank, citing force majeure as the area was the subject of a territorial dispute between China and the Philippines.

Pangilinan's Philex Petroleum Corp. holds a substantial stake in SC 72.

The company is prepared to initiate lifting the suspension order on drilling and exploration in the contested territory.

"But we need a signal from government ... that not only that they will approve but we can send a survey vessel and then, after that, do exploratory works because we don't want to get in the middle of a geopolitical issue," Pangilinan said.

The businessman hopes that the ban on oil exploration will be lifted.

"So that once and for all, we can determine whether there is gas or none," he said. — VDS, GMA News

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