Spratly joint survey deal signed<\/p>\n
PHILIPPINES: The national oil companies of the Philippines,
\nChina and Vietnam on Monday signed an accord to conduct a joint
\nseismic survey of the Spratly islands, a disputed archipelago in
\nthe South China Sea.<\/p>\n
The three-year survey will provide clues for the potential oil
\nand gas reserves in the area, which is claimed by China, Vietnam,
\nTaiwan, the Philippines, Brunei and Malaysia, said Eduardo
\nManalac, president of state-owned Philippine National Oil Co.<\/p>\n
He described the agreement as a purely \"commercial transaction
\nthat has no reference to political claims or territorial rights.\"<\/p>\n
A spokesman for President Gloria Macapagal Arroyo hailed the
\ndeal as \"a model-setting approach on the South China Sea issue
\nand on forging partnerships on energy security.\"<\/p>\n
Manalac said the three companies, which also include China
\nNational Offshore Oil Corp. and Vietnam Oil & Gas Corp., were
\nstill working out the budget for the pre-exploration activity,
\nbut that it would be shared equally.<\/p>\n
China and Vietnam, which both have built permanent structures
\nin the Spratlys, clashed over the island group in 1988 and 1992.
\nOther countries have had skirmishes. Two years ago, China and the
\n10-member Association of Southeast Asian Nations adopted a non-
\nbinding declaration that forbids construction on uninhabited
\nislands to prevent territorial disputes from escalating. -- AP<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/spratly-joint-survey-deal-signed-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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