Palace: No PH interest will be lost in possible joint oil exploration with China

Malacañang on Monday ensured that the government would protect the country’s national interests in the possible joint oil and gas exploration with China amid present energy challenges. 

Palace Press Officer Undersecretary Atty. Claire Castro said the administration would never surrender the Philippines' interests if this joint exploration will occur. 

"Lagi naman, kung ano ang nararapat sa atin at kung anong karapatan natin, 'yan naman ang ipinaglalaban ng Pangulo at ng administrayon na ito (Whatever is rightfully ours and whatever our rights are, that's what the President and this administration are pushing for)," Castro said in an interview. 

"So, walang mawawala. Walang mawawalang interes, walang ipamimigay na interes. Basta tayo laging sincere, walang secret deal (So, nothing will be lost. No interest will be lost, and no interest will be surrendered and we remain sincere, there are no secret deals)," Castro added.

Last week, the Chinese Embassy in Manila disclosed that discussions between the Philippines and China on possible joint oil and gas exploration in the South China Sea have made “positive progress.”

The embassy said the two countries held “in-depth discussions” on joint development in the disputed waters.

"Setting aside differences and pursuing joint development is the right path to uphold peace and stability in the South China Sea and deliver benefits to countries in the region and their peoples,” the Chinese embassy said.

Data from the Department of Energy in 2020 showed that the West Philippine Sea may hold more than six million barrels of oil and over seven billion cubic feet of natural gas classified as undiscovered resources.

Among the areas believed to be rich in natural gas is Recto Bank, or Reed Bank, which lies within the Philippines’ exclusive economic zone.

China continues to assert sweeping claims over nearly the entire South China Sea, including areas within the West Philippine Sea, despite the 2016 arbitral ruling that rejected those claims.  —RF, GMA Integrated News