WATCH: Why Carpio backs Palace's MOU on joint development with China

MANILA, Philippines — The recently signed memorandum of understanding on oil and gas development between the Philippines and China complies with the 1987 Constitution, Senior Chief Associate Justice Antonio Carpio said Friday.

This agreement was signed when Chinese President Xi Jinping visited Manila last month.

Carpio expressed support for the MOU as the draft that was signed came from the Philippines and not China.

READ: MOU on oil development with China an 'agreement to agree' — Cusi | 

"The Philippine draft, which was the one signed, calls for cooperation in oil and gas activities through the vehicle of Philippine service contracts. Joint exploration and exploitation violate the Philippine Constitution, which requires that the Philippine state should exercise full control and supervision in the exploration and exploitation of natural resources," Carpio said at the "Pilipinas Conference 2018" forum in Makati City.

If China would be satisfied with the agreement on oil and gas development, the Philippines might be on its way to resolve the maritime dispute in the entire South China Sea, part of which is the West Philippine Sea, according to the justice.

"If China accepts, then we would have found the forumula to finally settling the dispute in the entire South China Sea," Carpio said, adding that this would depend on the outcome of future negotiations between the two countries.