Esperon: Joint oil exploration deal with China a 'fair' agreement


Posted at Oct 25 2019 08:14 PM

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The country's National Security Adviser, Hermogenes Esperon, defends Manila's joint oil exploration deal with Beijing by insisting that it is a fair agreement since China will be spending for it.

Maritime law expert Jay Batongbacal says the 60-40 sharing formula is the standard. But he notes that authorities should closely monitor whether or not the Philippines will be able to retain control over all exploration development activities that will go on.