Although it is within the Philippine Exclusive Economic Zone (Philippine EEZ), economic rights to the are disputed - mainly by the Peoples Republic of China.
The bank is in the northeast quadrant of the Philippine\s Kalayaan Islands claimed territory. The aread is located oof the west coast of Palawan, north of Iroquis reef and the Southern reefs, and east of the northeast part of the Spratly islands. The nearest occupied parts of the Spratly islands are Philippine-occupied Flat Island, Nanshan Island, Ayungin Shoal (or Second Thomas Shoal, and the PRC occupied Mischief Reef.
Oil and gas
Seismic surveys indicate that the Recto Bank (Reed Bank) is rich in oil and gas deposits, but they have only been partly tapped due to disputed claims from China.
Exploration in the area began in 1970, and in 1976 gas was discovered in the Sampaguita structure followin the drilling of a well.
Impact of the Ruling by the Permanent Court of Arbitration.
On July 12, 2016 the Permanent Court of Arbitration ruled that there was no legal or historic basis for China's claim to most of the South China Sea. It also found that China violated the Philippines sovereign rights by constructing artificial islands within the disputed area. On the basis of the decision, the development and exploitation of the Recto Bank's (Reed Bank) is now within the Philippines' Exclusive Economic Zone.
Link : https://en.wikipedia.org/wiki/Reed_Bank
Philex Petroleum Oil Drilling platform at Recto Bank before it was stopped .by China in 2015.
Philex Petroleum Oil Drilling platform at Recto Bank before it was stopped .by China in 2015.
Map of Joint Marine Seismic Undertaking done by China in the year 2008 with the
approval of ex President Gloria Macapagal-Arroyo.
Map of Joint Marine Seismic Undertaking done by China in the year 2008
The JMSU seismic survey of West Philippine by China led to discovery of huge quantify of Oil in Recto Bank (Reed Bank) which is located deep inside the Philippine's Exclusive Zone (EEZ)
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Related articles about
Recto Bank :
China is about to win "joint-exploration" of an energy soft spot reserved for the Philippiines
China is about to win "joint-exploration" of an energy soft spot reserved for the Philippiines
https://flipboard.com/@flipboard/flip.it%2FE86OQT-china-is-about-to-win-joint-exploration/f-2f26ad8a0d%2Fqz.com
Security expert:
China after oil-rich Recto Bank too
http://globalnation.inquirer.net/100676/security-expert-china-after-oil-rich-rector-bank-too
Philex Petroleum
awaits govt’t cue on Reed Bank exploration
http://www.gmanetwork.com/news/story/573635/money/companies/philex-petroleum-awaits-gov-t-cue-on-reed-bank-exploration
U.N. Permanent
Court of Arbitration – Award July 12, 2016 (Part 1 of 3)
U.N. Permanent
Court of Arbitration – Award July 12, 2016 (Part 2 of 3)
U.N. Permanent
Court of Arbitration – Award July 12, 2016 (Part 3 of 3)
http://jibraelangel2blog.blogspot.com/2016/10/un-permanent-court-of-arbitration-award_6.html
The West Philippine
Sea Dispute by Justice Antonio Carpio
Bajo
de Masinloc, other name: Panatag Shoal and Scarborough Shoal 101
http://jibraelangel2blog.blogspot.com/2016/06/scarborough-shoal-101.html
Phl stops oil and
gas drilling in Reed Bank, cites dispute with China.
http://www.imoa.ph/phl-stops-oil-gas-drilling-reed-bank-cites-dispute-china/
The JMSU: A Tale of Bilateralism and Secrecy in the South China Sea.
https://www.csis.org/analysis/jmsu-tale-bilateralism-and-secrecy-south-china-sea
Gloria Arroyo was responsilbe for Chinese inavasion in the West Philippine Sea.
http://risephilippines.com/defense/gloria-arroyo-was-responsible-for-chinese-intrusion-in-the-west
philippine-sea/
Spratlys deal unconstitutional: Joint Marine Seismic Undertaking void
http://www.gmanetwork.com/news/story/85173/news/specialreports/spratlys-deal-unconstitutional-joint-marine-seismic-undertaking-void
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YouTube Videos of Recto Bank / Reed Bank
SONA: Pagpapatuloy ng oil exploration sa Recto Bank
na bahagi ng Pililipinas, matuloy na kaya.
Philex Petroleum wants to explore Reed Bank anew
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Related Maps / Charts of West Philippine Sea
Bajo de Masinloc also named Panatag Shoal and Scarborough Shoal
Planned huge military, naval, and air force base to be built by China at
Scarborough shoal after China reclaimed and build an artificial island at the shoal.
Bajo de Masinloc also named Panatag Shoal and Scarborough Shoal
Planned huge military, naval, and air force base to be built by China at
Scarborough shoal after China reclaimed and build an artificial island at the shoal.
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