China and Philippines will restart offshore oil and gas development

Seetao 2023-01-13 11:55
  • The Philippines is currently the most promising target for joint development and cooperation of offshore oil and gas
  • China-Philippines oil and gas cooperation also plays a positive role in promoting practical maritime cooperation in scientific research, environmental protection and other fields
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Wang Wenbin said that the three national oil companies of China, the Philippines and Vietnam signed the Tripartite Joint Marine Seismic Work Agreement in the South China Sea Agreement Area in 2005 and carried out joint seismic maritime operations in some areas of the South China Sea. This is an important measure for the three parties to jointly implement the Declaration on the Conduct of Parties in the South China Sea, a useful attempt for maritime cooperation between the parties in the South China Sea, and has played an important role in promoting the stability, cooperation and development of the South China Sea region.

Wang Wenbin pointed out that China has always been committed to properly handle maritime disputes through dialogue and consultation with the South China Sea parties, including the Philippines, and actively explore practical maritime cooperation, including joint development. A few days ago, during the visit of Philippine President Marcos to China, China and the Philippines agreed to, in accordance with the spirit of the Memorandum of Understanding on Oil and Gas Development Cooperation signed in 2018, restart the offshore oil and gas joint development consultation as soon as possible on the basis of existing achievements, to benefit the two countries and the two peoples.Editor/Ma Xue