MERGED: RP-China Territorial Dispute, Related Events and Updates

[mtawason]

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Walay budget ang pinas para pag drill ani nga resources. Either we will get investors other than Chinese or not, the same ra gihapon na mahitabo we can not get it 100% kay wala man ta wawarts. So which would you prefer, get 50% or none at all? And since other countries are hesitant to invest because of the problems with China, then who else are we going to partner with? MVP went to China to have a deal with CNOOC, hopefully in the near future we can start drilling na.

So, ako pa ninyo nga sige ug bagotbot, pag invest nlang mo sa stocks sa companies nga maka benefit ani para kamo maka benefit pud mo. From that time on you will sing a different song

Bro akong iampo nga matakdan unta nimo ang ubang taw. Ambot pareha ra man ta ta ug kinaon nganong dili jud kasabot sa sitwasyon.

[istoryamember]

Manila, Philippines - Pangilinan-led Philex Petroleum said state-run China National Offshore Oil Corp. (CNOOC) is financially and technically viable partner in the potentially resource-rich Recto Bank.

Philex Petroleum the oil exploration unit of top gold producer Philex Mining Corp., held meetings with CNOOC in Beijing last month, its top executive said yesterday.

“What we want to satisfy ourselves is their interest in Service Contract 72 and they expressed their interest,” said Manuel V. Pangilinan, Philex Petroleum chairman.

“And of course their financial and technical capability and from the looks of it, they do have the resources available,” he said.

Officials of Philex Petroleum and CNOOC met three weeks ago in Beijing, a meeting Pangilinan described as “cordial and “productive.”

Last week, Philex Petroleum announced it is open to partnering with anyone that can help exploit the potential resources of Recto Bank, which lies near the disputed Spratly Islands.

Its subsidiary, London-based Forum Energy Plc, through its 100-percent interest in Forum Philippine Holdings Ltd. and Forum Ltd., holds a 70-percent equity in SC 72.

Last month, Forum Energy revealed that the latest seismic survey on its offshore prospects in the Recto Bank showed the prospective resources could reach as high as 16.612 trillion cubic feet for natural gas and 416 million barrels for oil. The area is now believed to have 3.4 trillion cubic feet of gas and potentially 440 million barrels of oil – said to be bigger than the existing Malampaya gas field off Palawan.

Pangilinan said CNOOC is one of the largest companies in China, with revenues and profits reaching 250 billion renminbi and 67 billion renminbi, respectively, last year.

Pangilinan said the company is open to conducting more discussions with CNOOC.

However, Philex Petroleum has yet to firm up a farm-in deal with any potential partner.

Pangilinan said a number of non-Chinese firms have approached management for a partnership.

“Typically a gas field will need a major expenditure and the help of international oil firms that have the technical capability and the financial resource to develop a field of some size,” Pangilinan said.

SC 72 covers an area of 8,800 square kilometers.

“It is important, if not critical for us, to partner with one or more than one international oil companies. We cannot do this on our own,” Pangilinan said.

Philex Petroleum, which listed in the local bourse by way of introduction in September, wants to plans to drill two appraisal wells in the Sampaguita gas field until August 2013 that needs an investment of $75 million.

China maintains that the waters around the island have been a traditional Chinese fishery.

The Philippines, on the other hand, insists that the Panatag (Scarborough) Shoal is within its 200-nautical mile exclusive economic zone based on the UN Convention on the Laws of the Sea.

CNOOC a solid partner in Recto Bank - Philex - The Philippine Star » News » Business

Either Chinese company or not, funds from other resources are needed. Especially naa pa baya palitonon si MVP nga Php 100B nga GMA network LOL

[istoryamember]

Bro akong iampo nga matakdan unta nimo ang ubang taw.

some people choose to be poor and just bark like a dog

[mtawason]

nahimo man lagi sa Malampaya, why not on other place. If theres no dispute na drill na ni oi. Money is not the issue esp if we are talking about $35T ROI .

Bro asa man ka dapita sa Pilipinas oi. Akoy naguol nimo.

[æRLO]

there are reports of some skirmishes with our pinoy frogmen(i think its the pinoy version of US SEALS), destroying chinese structures in the spratly's before... though reports are confidential OOPPS!

source: Flashpoint Spratlys: Talk About Abrogation and Boycott

Mga Navy SWAG? I've heard about clandestine operations dating mga 1998/late 90s in that area. I don't know if confirmed or mao baning same nga gi-mention though.

[mtawason]

basaha gyud ang link. para clear i will quote part of it...



Reef Wars - TIME

kanang close minded opposite na sa open minded

Bro ayaw kaau ug tuo anang balita kay ikaw ra giilad ana, basin imo noon mabaligya inyong anay.

OT: kanang close minded opposite na sa open minded
Unya asa man ka ani bro close or open?

[SsprinterT]

Bro asa man ka dapita sa Pilipinas oi. Akoy naguol nimo.

haaaaaahahaa....nagpadala ra ni sila sa ilang kalagot sa china bro.....pero kung taga lain nga nasud pa ang kameeting ni MVP....aw dili tingale ni sila mopaghot....

[Romeojin]

Bro ayaw kaau ug tuo anang balita kay ikaw ra giilad ana, basin imo noon mabaligya inyong anay.

OT: kanang close minded opposite na sa open minded
Unya asa man ka ani bro close or open?

evident na sa mischief reef and other chinese claims reef sa Spratly, they have structure and also to protect their reef from erosion. Unsa guarantee nimo na dili cla mag place ug structure sa Scarborough beh? imong words ? base from experience ako gi cite. moingon ka ilad. mao na close minded ka... imong opinion ra gisaligan iback kuno ug links imong words beh.. forum courtesy man pud na. if not ayaw na lang ko i-quote. unsa ka grade 3? kahit the meaning of "close minded" you dont know unsa tan-aw nimo open ko or close minded beh?

[Romeojin]

haaaaaahahaa....nagpadala ra ni sila sa ilang kalagot sa china bro.....pero kung taga lain nga nasud pa ang kameeting ni MVP....aw dili tingale ni sila mopaghot....

hahaha mao gani gi approach ang state owned CNOOC para maka drill sa disputed Recto Bank. Itry kuno ni MVP other country's oil firms beh kung dili sila kontrahon ng China

Does it have to be MVP's firm? why not the government owned PNOC partnered with CNOOC. PNOC had made it possible with foreign firms in Malampaya.


PS. my better judgment is telling me not to feed trolls

[goryo13]

wala pa man sad ni na settled gud kay daghan, as usual, ang claimant. kung ato pa ni claim dayun kani-adto, ato na unta ni. in fairness, subject for approval pa man sad ni sa ubang claimant sa area. karun raman sad ni nanggawas issue-ha nga si pnoy nay presidente whilst before, murag na busy man si gloria sa iyang pangurakot.