BEIJING, China – President Duterte’s latest talks with China have produced an agreement that sources say will be signed very soon.
The agreement outlines the details in a joint oil and gas exploration in the disputed parts of the South China Sea.
The agreement will see some of the first steps in working together with the Chinese government to discover oil and natural gas throughout the region that was just hotly contested over the past few years.
Sources say the agreement is still being worked out and is ongoing as of this publication – those talks that involve regions which include Recto Bank (Reed Bank) and several areas under Philippine’s control.
Currently Recto Bank is held in entity by Forum Energy Plc., a subsidiary of Philex Petroleum Corp.
Businessmen and leaders at the state visit said talks between the Philippines and Chinese governments would reveal the true nature of China’s intentions toward the Philippines – a so-called “friendship test.”