Philippines in talks for joint O&G exploration in South China Sea
MANILA: The Philippines and China are in talks to jointly pursue oil and gas exploration in disputed waters of the South China Sea, said Foreign Affairs Secretary Alan Peter Cayetano on Friday.
“I can tell you we are pursuing it aggressively because we need it,” said Cayetano. The Philippines will finalise within three months a legal framework that will allow for joint exploration, he said.
Philippine and Chinese officials met here last week to discuss joint initiatives as the two nations seek to look past contentious maritime issues.
Manila’s ambassador to Beijing, Chito Sta Romana, on February 15 said a group studying the possibility of a joint exploration may come out with its findings as early as this year.
Cayetano said the government is committed to exploring for new sources of energy as the Malampaya gas field, which supplies several Philippine power plants, will eventually run out of supply.
Meanwhile, the Philippines has invited Jack Ma and his Alibaba Group to partner with President Rodrigo Duterte in helping to improve technology for governance and to assist in building an inclusive financial system that would aid small businesses, said Finance Secretary Carlos Dominguez.
Ma said the Philippines had huge potential to embrace the technology revolution because ecommerce was specifically designed for developing economies a statement from the Philippine finance department noted.
Dominguez said Duterte was impressed with Ma when they met here in November, and the Philippine leader issued instructions to pursue discussions with the technology entrepreneur to find common areas that Alibaba and the Philippine government could pursue together.
“I will report to the president that there are many elements here that we could use in the Philippines,” said Dominguez.
The insight from the training would help the Duterte administration understand how to optimise the use of technology to improve governance and prepare Filipinos for the future under a digital economy, said Dominguez.