South China Sea: Filipino-British energy company will drill for oil

Originally posted on Peace and Freedom:

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Manuel Pangilinan.  Photo by PAUL HILTON/Bloomberg News /Landov

The associated Press

MANILA, Philippines—The chairman of Filipino-British company Forum Energy PLC said Friday a Chinese state-owned oil producer hasn’t responded to a revived proposal to jointly explore a disputed area of the South China Sea but drilling will go ahead by 2016 with or without a partnership.

Manuel Pangilinan, chairman of Philex Petroleum Corp., said that the London-based firm communicated the offer to China National Offshore Oil Corp. to explore Reed Bank, northwest of the Philippine island of Palawan. Philippine and Chinese vessels had a confrontation there three years ago.

Philex Petroleum Corp. is a majority owner of Forum Energy that has been awarded the exploration contract.

Pangilinan said the Chinese company, also known as CNOOC, has not responded but Forum is continuing its attempts to engage with the Chinese company. He said the project has not attracted other