This week, the Philippines announced it will take China to an international arbitration tribunal because of Beijing’s claim of nearly the entire South China Sea. The years-old squabble has long deterred most oil and gas prospectors from the region – but not all of them. A Philippine company is hoping to work with a Chinese state-owned entity to drill for natural gas in the disputed waters.
On hold
Forum Energy is stuck in a holding pattern. The British-based company, which is majority-owned by a Philippine entity, had hoped to start drilling for natural gas off Reed Bank in the South China Sea, but it has not gotten government approval.
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