President Ferdinand Marcos Jr. has stated that his administration is actively working towards resolving the West Philippine Sea (WPS) dispute in order to facilitate new energy exploration projects.
The aim is to commence these projects before the Malampaya gas field, located near the WPS, depletes its reserves.
During an interview with Japanese media at the ASEAN-Japan Friendship and Cooperation Summit in Tokyo, Marcos acknowledged the current deadlock in the WPS and emphasized the need to find a resolution to determine the roles of involved countries.
He reiterated that the Philippines firmly believes that the WPS is within its exclusive economic zone (EEZ) and maritime territory.
The Malampaya gas field, which is expected to run dry by 2027, holds significant petroleum resources. However, maritime tensions with China have hindered energy exploration efforts in the area.
Source: PhilNews24 | December 18, 2023
