Exploration & Production

Potential for Philippine bid round delay as tensions mount

The increasingly acrimonious dispute between claimants in the South China Sea threatens to delay or derail the Philippines’ plans to develop its upstream gas prospects The increasingly acrimonious dispute between claimants in the South China Sea threatens to delay or derail the Philippines’ plans to develop its upstream gas prospects.
By James Byrne 24 July 2012 0 11067

The increasingly acrimonious dispute between claimants in the South China Sea threatens to delay or derail the Philippines’ plans to develop its upstream oil and gas prospects, Interfax has learned.

The auction of three oil and gas blocks in northwest Palawan – originally scheduled for 31 July – could be deferred because of rising tensions between China and the Philippines, as may the development of promising gas discoveries in the region, a government source told Interfax on condition of anonymity.

Officials at the Department of Energy did...