PXP Energy Corp. will need protection from the government if it resumes oil and gas exploration in the disputed waters of the West Philippine Sea (WPS), its chairman said on Monday. READ:
“Even with the best of intentions on our part, because we want to continue with our work program precisely to determine once and for all if there’s gas in the area,,” Manuel V. Pangilinan told reporters on Monday.
PXP Energy and its subsidiary Forum Ltd. have put on hold activities for two petroleum exploration service contracts as directed by the Energy department until the issuance of the “necessary clearance to proceed.”Foreign Affairs Secretary Teodoro L. Locsin, Jr. last week announced the termination of joint oil and gas negotiations with China.
SC 75 was awarded by the Department of Energy on Dec. 27, 2013 and covers an area of 6,160 square kilometers in the offshore northwest Palawan basin.
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