Tuesday, June 18, 2019

Why is there a Chinese military vessel in Reed Bank?

The question now is, why is China’s military vessel in Reed Bank?

Reed Bank is 800 nautical miles from mainland China. But it’s included in the all encompassing nine-dash-line map, which no other country recognizes.

China has always coveted Reed Bank.

Many years ago, the Philippine Navy found Chinese markers near Reed Bank.

Reed Bank was what China wanted in exchange for the massive loans that it granted the government of Gloria Arroyo who entered into the Joint Marine Seismic Undertaking (JMSU) with China and Vietnam to explore that area.

The legality of the JMSU has been questioned before the Supreme Court which has not decided on it.

Reed Bank is not mentioned in the November 2018 PH-China Memorandum of Understanding (MOU) on Gas and Oil development signed by Foreign Secretary Teddy Locsin and Chinese Foreign Minister Wang Yi. But it is the understanding that it is the location of MOU, which has not yet evolved into agreement.


In 2010, under the presidency of Benigno Aquino III, the Department of Energy awarded Service Contract 72 to Forum Energy Plc. (FEP) exploration rights to a basin within Reed Bank. Manuel B. Pangilinan’s Philex owns 64.45 percent of FEP, a London-based listed oil and gas exploration firm focused on the Philippines,

Earlier seismic surveys showed that Reed Bank holds vast natural gas reserves with estimates ranging from billions to trillion cubic feet.
From Ellen Tordesillas.

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