REUTERS | September 04, 2018, 18:17 IST
TEL AVIV: Israel's Ratio Oil Exploration is expected to sign a long-awaited deal on Tuesday to search for oil and gas in the Philippines, a spokesman for Philippines President Rodrigo Duterte said.
Ratio was not available for immediate comment.
The company in 2015 was one of a number of foreign firms to be awarded an exploration deal. Ratio won the so-called East Palawan block, a 416,000-hectare oil and gas prospect off of Palawan, a southeastern province near the South China Sea.
But the award was delayed due to legal issues involving a previous exploration contract covering that block.
Duterte is visiting Israel this week. During his visit, Israel and the Philippines signed an agreement promoting foreign investments between the two countries.
