14-03-05
Oil companies of the Philippines, China and Vietnam signed a landmark
tripartite agreement in Manila. Arroyo congratulated the Philippine National Oil Company, China National
Offshore Oil Corporation and Vietnam Oil and Gas Corporation for the successful
negotiations to have the accord. In a joint statement, the three parties expressed their desire to engage in
the joint research of petroleum resource potential in the agreement area as a
pre-exploration activity. The term of the agreement will be three years and is
expected to begin before the rainy or the arrival of the typhoon season. The
joint activities will cover an area of about 143,000 sq km. Chinese ambassador Wu Hongbo told that the trilateral cooperation, based on
the mutual understanding and common interest, would set a good example for the
countries concerned to resolve the South China Sea issue in a peaceful way. Perez clarified that what was signed was a mere commercial agreement that
would not compromise ant countries territorial claims over the area. He also
said that the joint seismic research would only involve the use of seismic
vessels but no drilling would be conducted.
Source: XinhuaPhilippines, China and Vietnam agree to explore South China Sea areas
According to the agreement, a $ 15 mm joint marine seismic undertaking in the
South China Sea will last for a period of three years, a move that President
Gloria Macapagal-Arroyo described as a "historic breakthrough" in
developing the area of conflict among Association of Southeast Asian Nations (ASEAN)
and Beijing into a possible energy source.
"This is a historic event because it is the first, it is the breakthrough
in implementing the provisions of the code of conduct in the South China Sea
among ASEAN and China to turn the South China Sea into an area of cooperation
rather than an area of conflict," Arroyo said when meeting the delegations
from the three companies. "It is not only a diplomatic breakthrough for
peace and security in the region, but also a breakthrough for our energy
independence program because one of the elements of this program, is to work on
strategic alliances with our friends and allies so that we can have more supply
of energy for the region and our country," she added.
In the statement, the three parties affirmed that the signing of the tripartite
agreement would not undermine the basic positions held by their respective
governments on the South China Sea into an area of peace, stability, cooperation
and development in accordance with the 1982 United Nation's Convention on the
Law of the Sea and the 2002 ASEAN-China Declaration on the Conduct of Parties in
the South China Sea.
"We have to look for the best thing for the region, for our interest. We
have to do it collectively," Vietnamese ambassador Dinh Tich told.
Philippine Energy Secretary Vincente Perez Jr. said that the agreement was a
product of "oil diplomacy" and power of persuasion during meetings and
dialogues that started since last year.
"We will just study the potential petroleum resources of the area... This
is very important... This is also right on time because of the rising oil
prices. This is a big step forwards the so-called Asian energy
independence," Perez said. He noted that a successful study of the South
China Sea's oil potential could also work to finally resolve the long-standing
conflict in the area. Other claimants who might want to participate or raise
concerns over the agreement could talk to the Philippines, China and Vietnam, he
added.