BUSINESS tycoon Manuel Pangilinan is bullish on the resumption of exploration activity under Service Contract 72 (Recto Bank) in the West Philippines Sea as the diplomatic climate between the Philippines and China has become warmer under the Duterte administration.
Forum Energy Plc. holds the license for Service Contract 72, which covers Recto Bank, known internationally as Reed Bank. The company is a subsidiary of Pangilinan-led Philex Petroleum Corp.
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