An energy company is finding a way around the territorial conflict between China and the Philippines to explore Recto Bank. Filipino tycoon Manny Pangilinan confirms, his Forum Energy Plc is talking to China’s government-owned oil company CNOOC. He says business venture in that part of the South China Sea is now “caught up in the geopolitics” of the region. The Recto Bank is covered by an oil and gas exploration contract awarded by the Philippine government. Forum Energy is drilling two exploratory wells from January to August.
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