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Philippines gets energy exploration offers for 3 sites in disputed waters

Local firm Troika Giant Power Corp has applied for a block in Mindoro basin, while PXP Energy Corp offered to explore one of the three blocks in Recto Bank, also known as Reed Bank, in the South China Sea



Philippines gets energy exploration offers for 3 sites in disputed watersThree companies have applied to undertake oil and gas exploration activities in four sites within Philippine territory, the Department of Energy said on Tuesday, including three located within contested waters in the South China Sea.

Local firm Troika Giant Power Corp has applied for a block in Mindoro basin, while PXP Energy Corp offered to explore one of the three blocks in Recto Bank, also known as Reed Bank, in the South China Sea.

The Reed Bank is where PXP Energy had been undertaking exploration to evaluate gas reserves in the Sampaguita block, but the project has been suspended indefinitely since 2014 due to the territorial dispute with China.

Philippine firm Udenna Corp has applied to explore the other two Reed Bank blocks, the energy ministry said in a statement.

All three companies had passed the technical, legal, and financial requirements, but their proposals would be evaluated further within 15 working days, it said.