By Lenie
Lectura - September 27, 2017
MALACAÑANG is expected
to sign a 12-year petroleum service contract among the Philippine National Oil
Co.-Exploration Co. (PNOC-EC), China National Offshore Oil Co. (CNOOC) and
Mitra Energy Ltd. of Malaysia.
“I think we have SC
[Service Contract] 57 that is already with the Office of the President [OP].
So…we can pursue its exploration [soon],” Energy Secretary Alfonso G. Cusi
said. “We have already finished the documentation, the contract and presented
it already to the Office of the President.”
SC 57 covers west of
the Calamian Islands in northwest Palawan. It was awarded to PNOC in 2005. The
state firm later took in CNOOC and Mitra Energy as partners in SC 57, with the
Chinese firm ending with a majority stake at 51 percent, PNOC-EC with 28
percent and Mitra with 21 percent.
The farm-in agreements
among the three firms have yet to be approved by the past administrations due
to administrative issues. Cusi said he sees no reason President Duterte should
not approve SC 57 since “this is within the Philippine territory”. Besides, the
diplomatic ties between the Philippines and China have improved since the
President assumed office, he added.
“There were problems
before and approval was further delayed because of tax issues,” Cusi said. “It
has been pending since 2008, I think.”
In July last year the
Philippines won an arbitration case against China over the South China Sea. In
particular, the Philippines has exclusive sovereign rights over the West
Philippine Sea and that China’s nine-dash line is invalid, according to the
United Nations Arbitral Tribunal.
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