Senate President Pro Tempore Ping Lacson has backed possible joint oil and gas exploration with China amid global supply risks from Middle East tensions, saying the Marcos administration should consider tapping resources in the West Philippine Sea.
Lacson stressed any deal must follow the Constitution’s 60-40 ownership rule favoring Filipinos, ensuring national interest is protected.
“Yes… sinusuportahan ko. Sayang eh, yayaman tayo doon,” he said, citing the country’s potential gains from untapped reserves.
The law allows joint ventures with at least 60% Filipino ownership, setting limits on foreign participation in resource exploration.
Lacson noted the Philippines lacks funds and technology for large-scale drilling, while China has the capability, making partnership an option.
He recalled earlier talks during the Duterte administration, adding any agreement must clearly uphold the 60-40 provision, saying approval from China would signal recognition of Philippine sovereignty in the contested waters.IMT
