On December 1, Philippine President Mako called on China to jointly develop South China Sea oil, and also put pressure on us by finding third-party cooperative development as a bargaining chip, hoping that we will make concessions on the issue of jointly developing South China Sea oil with him.
China and Philippines As early as 2018, they reached a "Memorandum of Understanding on Cooperation in Oilfield Development". The two countries also launched joint exploration projects for a time, but Aquino III unilaterally launched a "South China Sea Arbitration Case" before stepping down, and then the joint exploration cooperation between the two sides was stopped. After Duterte took over as the Philippines president, the two sides launched a joint exploration cooperation, but Duterte stopped the project before stepping down.
China and the Philippines jointly develop South China Sea energy why is it so difficult?
This problem is mainly because the United States does not want the South China Sea region to stabilize, and the Philippines' elites are more pro-US. In order to strengthen the Philippines' legal provisions, energy exploration and development are national behaviors, and the Philippines must control more than 60% of its shares when conducting joint exploration and development with foreign companies. So every time the Philippines and China conduct joint exploration, the United States instructs the Philippine elite to move forward this law to prevent it.
The South China Sea is our territory of China. If the Philippines wants to jointly develop South China Sea energy with us, it is necessary to first recognize that the South China Sea sovereignty belongs to our China. This is a hard and rigid regulation. Since the South China Sea is our country's territory, when jointly developing South China Sea energy, our country naturally needs to occupy more than 60% of the joint development company's shares, otherwise how can it be reflected that the sovereignty of the South China Sea belongs to our China.
In the previous few joint exploration cooperation between China and the Philippines, our China occupies 60% of the shares and the Philippines occupies 40%. From this we can see that the Philippines recognizes the sovereignty of the South China Sea and then develops it with us. Otherwise, it would not have accepted the share of 40% equity , so the matter is broken by the Philippines' pro-American elites and uneasy Americans.
Why is the Philippines anxious to call on us China to jointly develop South China Sea energy?
The Philippines is eager to call on China to jointly develop South China Sea energy. The biggest reason is that the Malapaya natural gas field, which bears one-fifth of the Philippines' power generation, is about to dry up. According to the original output, the Malapaya natural gas field in the Philippines will gradually dry up after 2022. Now 2022 is about to pass. Although the Malapaya natural gas field continues to produce, it is estimated that it will not last long. Therefore, the Philippines is eager to develop new oil and gas fields to fill the natural gas gap that occurred after the suspension of production of the Malapaya natural gas field.
In the past, when our Chinese navy was not so strong, the countries in the South China Sea joined hands with other foreign companies to secretly collect oil and gas from our South China Sea. But now that China is strong, this kind of theft will no longer be allowed to happen. What's more, China and the South China Sea countries have signed the "Declaration on Conduct in the South China Sea" if anyone dares to violate this declaration, we are not polite.
Therefore, if the Philippines wants to obtain energy from the South China Sea to solve its energy problem, it can only work with us China to develop energy from the South China Sea. Apart from this road, it has no other way.
The Philippines does not develop offshore energy technology. If it wants to develop energy in the South China Sea, it can only cooperate with countries or companies with related technologies. If the Philippines wants to put aside our cooperation with some foreign companies to develop energy in the South China Sea, China will never allow the exploration ships and equipment of those foreign companies to appear in the South China Sea.
Now the two countries jointly develop South China Sea Energy, and there is a conflict between the shareholding ratio stipulated by Philippine law and the shareholding ratio required to reflect our sovereignty in the South China Sea.
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