Businessman Manuel V. Pangilinan recently met with two Chinese exploration firms and discussed issues related to Service Contract (SC) 72.
BUSINESSMAN Manuel V. Pangilinan recently met with two Chinese exploration firms and discussed issues related to Service Contract 72.
He did not reveal the identities of two Chinese firms. He also did not reveal what transpired during the meeting. “We don’t have the authority on the sovereignty issues. We’re walking on egg shells, because if you talk about sovereignty—that’s them and we have to respect that,” he said. A force majeure event entitles the contractors to be excused from the performance of their respective obligations, as well as to the extension of the exploration period under the service contracts.
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