The Senate Committee on Economic Affairs is conducting a hearing on Wednesday on the proposal to create Benham Rise Development Authority (BRDA).
Senate Committee on Economic Affairs Chairman Sherwin Gatchalian has made a video presentation on Benham Rise.
The senator said, “the raw potential of the area justifies continuous exploration.”
But he also noted, the full exploration of Benham Rise will entail intense scientific research.
Senator Edgardo Angara earlier proposed the formation of the BRDA to act as lead agency for such explorations.
The issue on Benham Rise came to the fore following reports of alleged Chinese intrusion in the area.
Benham Rise is a 13-million hectare undersea plateau off the coast of Aurora.
It reportedly has vast natural gas and mineral deposits.
National Security Adviser Hermogenes Esperon told the senators that Philippines has the sole right to explore and exploit the natural resources in Benham Rise.