Marcos: No definite timeline on eyed joint exploration with China

President Ferdinand “Bongbong” Marcos Jr. on Friday reaffirmed that the Philippines is open to having a possible joint oil and gas exploration with China amid the effects of the Middle East conflict, but said it is uncertain if it will happen within his term.

Marcos said this in a presidential luncheon hosted by the Foreign Correspondents Association of the Philippines (FOCAP), stressing that discussions on the joint exploration has gained prominence recently.

However, considering the energy emergency, he said the Philippines has to “find new ways” to curb the effects of the Middle East crisis on the lives of the Filipinos and the economy.

“And where are we at now? I think we have moved forward. There were several issues from the beginning that we are slowly working through. And I can see this new possibility that there will be such joint exploration,” he said.

“It is just in terms of reference. Like any joint venture, a G2G or if it is purely commercial, you have to define between yourself and between the parties in terms of reference. That's what we are doing now and we're working through that, and we're making progress,” he added.

Marcos also pointed out that the Philippines needs additional supplies of oil and gas, and has to explore other possibilities in the West Philippine Sea and “wherever else we can take advantage of.”

Asked if it is indeed possible to have a joint oil and gas exploration with China, the President answered in the affirmative.

“Yes, definitely. We wouldn't be making these discussions. We wouldn't be having these discussions if it was not with the view to actually, at the end, have such a joint operation,” he said.

Marcos, however, clarified that such a joint exploration happening within his term still depends on how the discussions would go.

“I think the sense that I get is that all parties involved want it to succeed. And that's always a very good sign. I could not give you a definite timetable,” he said.

To recall, Marcos previously committed that sovereignty will always be at play if the Philippines will have discussions as regards joint exploration for resources.

In 2023, Marcos also said legal issues need to be discussed as regards the proposed joint oil and gas exploration with China in the South China Sea. — RSJ, GMA News