Senate President Pro Tempore Panfilo “Ping” Lacson on Sunday, April 5 said he will support the Marcos administration should it decide to enter a joint exploration venture with China in order to help boost the country’s energy reserves.

Lacson, however, stressed any such arrangement for a joint oil or gas exploration with Beijing should be backed with a 60-40 agreement on foreign ownership under the Philippine Constitution.

Under Sec. 2, Art. XII of the 1987 Constitution, the senator said the State “may enter into co-production, joint venture, or production-sharing agreements with Filipino citizens, or corporations or associations at least sixty per centum of whose capital is owned by such citizens.”

“Yes. Four-square behind, sinusuportahan ko. Kasi sayang eh. Yayaman tayo doon (Yes. I am supporting this, I'm four-square behind it. There is so much potential. We can benefit greatly from it),” said Lacson in an interview on DZBB radio.

Lacson noted that the Philippines lacks the technical and financial resources to conduct an oil exploration on its own.

In contrast, China has all the technological means and equipment for such operations.

The senator recalled that during the Duterte administration, he along with Senate President Vicente Sotto III had discussed the matter with then President Rodrigo Duterte who was also “supportive” of such initiative.

“Ang mahalaga lang sa atin, on paper sa agreement, sa MOA (memorandum of agreement) or whatever na pipirmahan, maliwanag emphasized doon 60-40 (What's important to us is that on paper, in the agreement, in the MOA (memorandum of agreement) or whatever will be signed, it is clearly emphasized there that it is 60-40),” he stressed.

Pag pumayag ang China, panalo na tayo dahil ibig sabihin nire-recognize nila ang sovereignty ng Pilipinas sa West Philippine Sea o kung saan man ang area na ma-explore (If China agrees, it is a big win for us because it means they recognize our sovereignty in the West Philippine Sea and other areas of the Philippines that the joint exploration may cover),” Lacson said.

Earlier, Presidential Communications Office Undersecretary Claire Castro assured that the Marcos administration will continue to safeguard the country’s rights in the West Philippine Sea, as Manila and Beijing opened “initial exchanges” on potential offshore oil and gas exploration amid the continuing conflict in the Middle East.

“No (Philippine) interests will be lost, and none will be given away,” Castro said.