THE Philippines has proceeded to invite foreign investors to explore for fuel deposits in two offshore areas near the South China Sea despite a protest from China, which also claims the territory.
Energy Secretary Jose Almendras said Monday the areas northwest of Palawan were in Philippine territory and were two of 15 areas nationwide being offered to foreign investors for oil and gas exploration.
The Chinese Embassy last year protested the plans to invite foreign companies to explore in the two areas, saying those were part of the South China Sea region that fell under its sovereignty.
Almendras said the government would start awarding exploration contracts to some companies next month, but did not say whether the permits would include the two areas claimed by china.
“They [China] filed a request to clarify because they feel that Areas 3 and 4 are part of the Sptratlys,” Almendras said.
“It is up to the [Foreign Affairs Department] to discuss this and that. The [Energy Department] has no comment on these things. As agreed, [Foreign Affairs] takes the lead in all the diplomatic issues.
“We offered 15 [service contracts] which the Philippines believes are within its territorial claims.” the energy secretary said.
Areas 3 and 4 are both off Northwest Palawan. Area 3 covers 600,000 hectares and is estimated to contain 440 million barrels of oil and 2.2 trillion cubic feet of gas. Area 4 covers 616,000 hectares and is estimated to contain similar reserves.
Some 25 companies have submitted pre-qualification documents signifying their interest to join the bidding for 15 oil and gas areas under the Philippine Energy Contracting Round 4.
The interested firms are PetroEnergy Resources Corp., Nido Petroluem, PNOC Exploration Corp., MinEnergy, Shell Philippines Exploration B.V., Pitkin Petroleum, Dilmoro Energy Corp., Mindanao Asia International Energy, Southernpec, Forum Pacific, Planet Gas, Monte Oro Resources, Philex Petroleum, Total, ENI, Calenergy, GDF Suez, Golden Dragon, NorAsian, Kris Energy, Esso, Mitra Energy, Tap Oil, Caranarvon Energy and KRX Energy.
The government in June last year launched 15 oil and gas exploration areas under PECR 4, which is estimated to generate investments of around $500 million for each area or a total of $7.5 billion.
Dipetik dari - Manila Standard Today
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