Duterte appoints Clark exec to PNOC

Arianne Merez, ABS-CBN News

Posted at Sep 16 2019 03:32 PM

MANILA- President Rodrigo Duterte has appointed a member of the Clark Development Corp as a board member of the Philippine National Oil Company (PNOC).

Michael Ted Macapagal was assigned as a member of the PNOC Board of Directors on Sept. 6, a list of new presidential appointees released by Malacañang on Monday showed.

"I am deeply humbled by the president's continued trust and confidence in me. I fully support his vision -- specifically, on the issue of oil and gas exploration with China in the West Philippine Sea; where there is no doubt [the MOU] is a positive development towards promoting peace and security to the region," Macapagal said in a statement posted on his Facebook page.

Macapagal enters the PNOC as the Philippines and China pursue a joint oil and gas exploration in the West Philippine Sea.

Both the PNOC and its Chinese counterpart, the China National Offshore Oil Corporation (CNOOC), were tasked to form a technical working group for the exploration deal.

The President previously appointed Macapagal to the Board of Directors of the Clark Development Corporation (CDC) on Feb. 2, 2018.

The PNOC is a government-owned and controlled corporation formed under the martial law regime of late dictator Ferdinand Marcos. It is tasked to supply oil to the Philippines.