Philex Petroleum chairman Manuel Pangilinan

Philippine firm Philex Petroleum is planning to start drilling two more wells in the disputed waters of the South China Sea.

The company’s chairman said they would move forward without a partner and despite rising tensions with Beijing.

Philex will also need to seek another extension of a drilling permit for the area from the Philippine government.

The current permit expires in August 2015.

Then asked if the company would continue exploring alone, chairman Manuel Pangilinan said, “Yes, that is our intention. That’s the plan of Philex Petroleum, subject to Philippine government approval.”

“And of course, we do not know how China would react,” he added.


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