Filipino, China oil firms eye deal in disputed sea


A British company in the Philippines have begun negotiations, China national offshore oil producer for a part of the south China sea oil and gas exploration agreement, the Philippines and China ships were involved in a fight only two and a half years ago.
If agreed, it would be the first involves the territory in the sea between China and the Philippines, two countries claim.
Philippine secretary of energy Petilla Jericho, said Wednesday that dialogue BBS energy company and China national offshore oil corporation (cnooc) development area of reed bank is still at a preliminary stage. China and the Philippines will have to approve a deal, but Petilla expressed the hope that business can reach a consensus, despite the long dispute of anger, a giant reed bank offshore region claimed by both sides.
Most have a London BBS is a energy company in the Philippines, holding talks oil company is abroad, in Hong Kong recently, Petilla said.
Choose to enter a business partnership "is not a drill - may forever." Petilla said.
President aquino told foreign reporters, any such deal with China must comply with the law. Reed bank, northwest palawan in the Philippines, exclusive economic zones lies clearly in the Philippines, aquino said.
Territorial disputes in the south China sea in China and the Philippines part have worsened in recent years, tensions.
Chinese ships trying to get rid of the Philippines in the reed bank exploration ship in March 2011. A usually deployed two Philippine air force plane but Chinese patrol boats had to leave the plane arrived at the disputed area.

<>Filipino, China oil firms eye deal in disputed sea

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