MANILA — PXP Energy is hoping “some progress” can be made on possible joint exploration in the South China Sea when President Rodrigo Duterte and Chinese leader Xi Jinping meet later this month, its chairman said Wednesday.
Efforts to restart talks with China National Offshore Oil Co have “not moved” since PXP sent feelers last year, chairman Manuel Pangilinan said.
Incidents like the ramming of a Filipino fishing boat by a Chinese vessel last June “doesn’t help,” Pangilinan told reporters.
“I don’t know what they will be talking about, but I do hope some progress can be made towards further work we can do in the South China Sea,” he said, referring to the planned Duterte-Xi meeting.
Chinese President Xi Jinping’s state visit last year was “a big step forward” for the possible joint exploration deal but PXP Energy has not heard from CNOOC.
The allission, which sparked fresh diplomatic tensions between Manila and Beijing, happened near Reed Bank (Recto Bank), where PXP Energy was hoping to drill for oil.
“I think we just have to wait for developments,” Pangilinan said.