Speaking to reporters, Chinese foreign ministry spokeswoman Zhang Qiyue called for all relevant countries to put aside disputes and jointly explore the resources of oil and gas in disputed waters.

"We are ready to conduct cooperation with other countries, including Vietnam," she said.

"We should actively explore how to conduct joint development work in the disputed waters of the South China Sea.”

China and the Philippines have signed an oil cooperation agreement on jointly developing the seismic survey work in the region. The purpose of this agreement is to study and assess the oil and energy the Nansha Islands. Both sides will research seaquakes and evaluate oil resources in certain waters.

“It [is] a significant move for the two countries to implement the Declaration on the Conduct of Parties in the South China Sea," she said.

"The agreement accords with the regulations and principles of the declaration. It plays an important role in maintaining peace and stability of South China Sea, as well as promoting concrete cooperation of countries concerned in this area.”