PH Multi-Billion Oil and Gas Deposit China Wants to Control
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- Опубліковано 3 бер 2024
- PH Oil and Gas Deposit in West Philippine Sea | China Wants to Control
#southchinaseadispute #westphilippinesea #oilandgas
The U.S. Energy Information Agency estimates that the South China Sea holds about 190 trillion cubic feet of natural gas, and 11 billion barrels of oil, in proved and probable reserves. Most of which lie along the margins of the South China Sea, rather than under disputed islets and reefs.
While the U.S. Geological Survey in 2012, estimated that there could be another 160 trillion cubic feet of natural gas, and 12 billion barrels of oil undiscovered in the South China Sea. Beijing’s estimates for hydrocarbon resources under the sea are considerably higher but still modest in relation to China’s overall demand- where the country’s oil consumption in 2018 is expected to top 12.8 million barrels per day.
This year, the Washington-based Asia Maritime Transparency Initiative reported that several countries are pursuing new oil and gas development projects in those contested waters, which, the organization notes, could become a flashpoint in the disputes.
Between 2018 and 2021, there were numerous standoffs between China, Vietnam, the Philippines, and other Southeast Asian countries over drilling operations in disputed areas of the South China Sea, and fears are building that even more severe confrontations lie ahead.
Fresh conflicts in the South China Sea may arise as claimants - excluding the Philippines - push ahead with oil and gas projects in areas Beijing claims, according to a new report. Data from the US-based Asia Maritime Transparency Initiative, detailed claimants’ new offshore projects, many of which lie inside China's sweeping nine-dash line claim, including sites where confrontations previously took place.
According to Think Tank, With the China Coast Guard increasing the frequency of patrols across disputed waters, the prospect of confrontation between Chinese law enforcement and oil and gas operators at many of these locations is high. China, Vietnam, Malaysia, and Indonesia have moved forward with their energy exploration and development projects, while the Philippines continues to suspend all such ventures in contested waters - a policy adopted in 2014.
According to the report, Manila is the only claimant not developing hydrocarbon resources on the portions of its continental shelf covered by China’s nine-dash line. Manila briefly permitted exploration at Reed Bank last spring, but quickly shut it down amid challenges from the China Coast Guard.
The Philippines has a reasonable expectation that China will more forcefully block new work in the Reed Bank than it does elsewhere in the South China Sea.
Without access to more promising prospects, Philippine operators have turned to redeveloping the Cadlao oil field, an old concession that sits outside of China’s nine-dash line claim, and that last produced oil in the early 1990s. It noted, that Cadlao currently has an estimated five million barrels in reserves - much smaller than Reed Bank’s estimated five billion barrels of oil and 55 trillion cubic feet of gas.
The Recto Bank (also known as the Reed Bank), is the major gas exploration prospect that is being placed in the middle of a menacing diplomatic strife in the West Philippine Sea.
Recto Bank, a significant feature for the Philippines holding immense potential for the country’s energy security and economic growth, stands as a focal point in this rising concern over China’s recent behavior. China has been critical of the Philippines’ growing security ties with the US, calling the United States a threat to regional peace after the Marcos government gave it increased access to military bases under their 2014 Enhanced Defense Cooperation Agreement.
The Department of Energy has conveyed to Congress that President Ferdinand Marcos Jr. has given the go-signal to oil and gas exploration and drilling activities in the country, including at the disputed waters of the West Philippine Sea. The Recto Bank, which is covered by Service Contract 72 previously issued by the Department of Energy, is the major gas exploration prospect that is being placed in the middle of a menacing diplomatic strife in the West Philippine Sea.
The Philippines has been lagging behind Southeast Asian peers when it comes to extracting indigenous oil and gas resources - as neighboring countries like Indonesia, Malaysia, Thailand, and Vietnam have been successful in transforming their state-owned oil companies as petroleum powerhouse, not just in the region, but also on the broader global sphere.
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that's why the chinese is so obsessed in the philippines internal affairs and the chinese don't want the Philippines to have a strong military capabilities..
God bless Philippines!😁 Mabuhay!
It would be a GREAT HELP for all of us FILIPINOS..
. . .if the corrupt gov't officials won't take it. . .
the Philippines is rich in oil and gas, when this natural resources is explored and come to fruition this Country will Rise
yeah but doesnt have the expertise to utilize..so might as well give it to someone who can like China.....agree???
BY THE MIGHTY POWER OF THE SOVEREIGN LORD GOD BE DONE IN JESUS NAME WE PRAY!HALLELUJAH!
GOD'S BLESSINGS AND PROTECTION VICTORY TO OUR BELOVED PRESIDENT FERDINAND BONG BONG MARCOS JR AND BOUNG PILIPINAS AND ALL ALLIES OVER ALL KINDS OF ENEMIES IN JESUS MIGHTY NAME WE PRAY!AMEN AND AMEN! HALLELUJAH!🙏 ❤️
Don’t piss off the benefits that can be obtained. Plan for the future and enjoy today.
@@AndrewPremacio How about.. No! 😄
@@coffee.170 well I wasnt exactly asking for your opinion so YES haha
China is PURE GREEEEEEEDDD!
Its better to joint venture with america .just like the Aramco in KSA. Protected by usa. If phil cant protect its territory.
"ARAMCO" ...
Greed , Greed , Greed will have no peace ☮️ ❤🌎
Mahaba ang oil deposit sa West Philippines Sea, maaaring mula sa Ayungin Hanggang sa Bajo. Tanong ninyo Kay aroyo Siya ang president Ng magsurvey ang china Doon.
This is why chinese dont want philippines to have alliance 😁
Thanks for Sharing 💙😀😍 from Sydney Australia 🇦🇺 🇵🇭
Matalino ang ating Mahal na pangulo kaya hintayin nating magdisisyon ang Mahal na pangulo Huwag lang patagalin ang pagpapatayo ng Gas explorations ang drilling at baka maunahan tayo ng tusong China
Naguumpisa na sila UK company magsasagawa nagkakabit na sila mga tubo. Yan ang di naisip ni duterte
Buti pa ipacontrol sa America na ang mga natural resources gaya Oil and Gas 40 / 60 ang hatian….
Time will come when us Filipinos could extract these oil and gas deposits by ourselves. So no need to hurry in extracting these. Near future generations could make use of them. The technique on how to get them is not a nuclear bomb level of difficulty, it's just about budget, engineering and management. But it is also not a problem if we call on other countries like USA in helping with the extraction because current generation is also in need of these resources.
Do it carefully for there are lots of crooks in the mists ☮️❤️🖖
Nagstart na po sila kabit mga tubo para sa oil drilling. With the help of UK company
I would love to see the Philippines and the U.S. start a co-operative. Place an oil platform close to one of the Chinese man-made islands and dare them to do something about it! Philippines rising 👍
Former predident gloria arroyo allowed chinese to explore the west philippine sea now they knew that west philippine sea is rich in oil and gas deposits that’s why they included wps in 9 dash line
YES, TRAITOROUS POKEMON
Another stupid president..but, thanks BBM BECAUSE HE KNOWS THAT CHINA ARE REALLY INTERESTED.
True. It's sad when leaders like Arroyo and Duterte allowed their chinese patrons to exploit our potential rich resources spots. Nakakagalit!
If china don't recognize the UNCLO, likewise Philippines don't recognize too the bul....t 9 dash line of china .. 🇵🇭🇵🇭🇵🇭🇵🇭👍👍
Pls don't mention South China sea but it is West Philippines sea
You mean East Vietnam Sea?
@@jon_nomad that is even also part of Philippines sea
pinas must move faster now
now when this will be drilled no more ofw because there will be incentives for filipinos and poverty will be abolished.
Its time to bring democracy in the pacific once more. 😂
PBBM can have the potential deposits in the SCS when China ceases to exist.
That's why china is aggressive haha but they didn't get even one inch square meter
God bless Philippines, God bless America and God bless Israel!
Until now no exploration has been made..
All waters inside our EEZ. we must develope with our friendly allies like US , Japan, South Korea, Australia or Canada for economic growth for Philippines energy independence and reliability…Never let CommunistChina exploit our non renewable resources that belongs to all Filipinos..
CHINA; NO WAY CHINESE...
BACK OFF???
Actually Philippine is very rich country down south.... Some people just pretend....
Natural resources belongs to the Filipino people.
Matagal ng alam taong bayan Yan..hangang pangarap nlang Tayong mga pilipono
Hmm... why is it possible for Malaysia and Vietnam can have joint resource explorations in disputed waters with China and among themselves while the Philippines can't?
better gave the drilling tonAmerca, japan, andcAustralia. Opinion.ko.lang kung likes nila.
Sana forever ang America mag stay sa Philippines Sea para mag tulongan sa mga lahat nang project ni pbbm Jr 🇱🇷🇱🇷🇱🇷🇱🇷🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🙏☝️🌏
We are already reach in menirals ..im a pilipino..
Because of corruption..we cant be rich country
🇮🇩🇨🇳🇹🇷🇵🇸🇷🇺 Urraaaa!!
The government just talk we know this for a long time 😂😂😂😂😂😂
Mag joint venture nlang sa japan kasi honest at matitino na mga tao ang mga administrador sa gobierno ng japan at saka yong mga companies CEOs'
Much has been said about the large oil deposits of the country. But why has nothing been done to extract the oil deposits to ease our economic problem. what is the update about the liguasan marsh
Why not let UN force to watch our oil exploration. That's within our EEZ.
China again what now they are going to update their new line as line dash 12, 13 ,14 and so on
Just stop it the South China Sea is a huge headache
Now they want the west Philippines sea they are asking for to much
It’s time to say No
Why not join BRICS?
Hinde scs iyan West phi sea west phi sea wps
The drilling must be start, but unluckily no sign of drilling yet only news, Philippines only dreaming of oil deposit to come out 😂😂😂
🙏🌍☝️👏⚖️🌹👍✌️🍀😊
Dati pato Ang sabi masimolan sa panahon ni president Marcos,at Hanggang Ngayon,malapit na matapos termino ni president Marcos,at Hanggang nangyon Hindi pa nasimolan
Who decides territorial boundaries? The “arbitration “ was bad because China never submits to it’s jurisdiction. A very simple rule in international law
Paano nga sasali sa usapin sa arbitration rule eh alam nila agad talo Xila,kaya dadaanin na lang sa dahas "ND nmn natatakot mga Pilipino sa mga tsekwa,,nungka,,
eat your dog soup
That is bcz Duterte compromised it