The Philippines may resume drilling for oil and natural gas on the Reed Bank in the South China Sea before the end of the year, as the government prepares to offer new trade blocks to investors, according to a statement by a Philippine energy official on July 12, Reuters reported. China, however, claims sovereignty over almost the entire South China Sea. The Philippines suspended energy exploration around the bank in 2014 amid maritime disputes with China. In 2016, the Permanent Court of Arbitration invalidated China’s claim to sovereignty in the South China Sea. Despite this, it is likely that the Philippines will carry out its drilling operations with China.
Philippines: Energy Exploration To Resume In South China Sea
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