“The agreement was to resume negotiations or resume talks. So we do not have any agreement on moving forward yet with the actual carrying out of activities in the Rector Bank,” Energy Secretary Raphael Lotilla said in a briefing on Monday. READ:
an eye on foreign and domestic investors as it awaits the resumption of talks with China for a possible joint exploration of the West Philippine Sea.
“In the meantime, we are proceeding with oil and gas development in other areas of the country… We will be open to foreign and domestic investors carrying out development activities. As far as those are concerned, we will be able to go ahead,” he said. The agreement to restart talks with Beijing for a possible joint exploration was reached during the bilateral meeting of President Ferdinand Marcos Jr. with Chinese President Xi Jinping last week.Lotilla said the DOE will wait for guidance from the Department of Foreign Affairs as to “the timing and the subject matter of the resumption of talks and even the venue of the talks.”
Lotilla said both parties “agreed to resume discussions at an early date, building upon the outcomes of previous talks.”
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