Exploration & Production

China and Philippines near agreement on South China Sea

China and the Philippines could reach an agreement on joint exploration in the South China Sea by September
By Staff reporter 1 August 2018 0 31981

China and the Philippines could reach an agreement on joint exploration in the South China Sea by September, Kyodo News reported on Tuesday, citing Philippine Foreign Affairs Secretary Alan Peter Cayetano.

“[There has been] no formal exchange of drafts yet, but hopefully, this August, latest September, we’ll be at that stage that we can exchange drafts,” the news service reported Cayetano as saying.

China is open to the Philippines receiving 60% of any resources jointly discovered, Cayetano added.