Bilyonaryo Manuel V. Pangilinan is hoping that petroleum exploration activities in the West Philippine Sea will be discussed during the upcoming meeting between President Bongbong Marcos and Chinese President Xi Jinping.
The Office of the Press Secretary earlier announced that Marcos would be in China for a state visit early next month.
“It’s a good time to talk about it because the President, I think, is scheduled to go to Beijing in January,” Pangilinan told reporters.
“It is probably on the agenda, I don’t know, but they should talk about it,” he added.
Marcos admitted last week that joint exploration talks with China for possible joint oil exploration in the West Philippine Sea are facing a roadblock.
He also raised the idea of exploring other ways to ensure the immediate development of oil and gas resources in the contested waters in case the possible government-to-government partnership fails to proceed.
Asked about his thoughts on the possibility of doing away with government-to-government talks with China, Pangilinan said: “Well let me put it this way, for concession areas that are clearly within Philippine territory you don’t need government to government.”
“The prime example is Malampaya which is mainly a commercial transaction…so in cases like those, that’s right you don’t need. It’s not a matter for geopolitics to intrude upon,” he said.
Petroleum exploration activities of Pangilinan’s PXP Energy Corp. in the West Philippine Sea remains on hold pending issuance of government clearances.
PXP holds 50 percent interest in SC 75 located in Northwest Palawan.
Meanwhile, Forum Energy, in which PXP holds a direct and indirect interest of 79.13 percent, has a 70 percent participating interest in SC 72 located also in Northwest Palawan.
PXP has a total economic interest of 54.36 percent in SC 72.