The Chinese government is willing to discuss with parties concerned on exploring south China Sea oil and gas on the basis of mutual respect, equality and reciprocity, Chinese Foreign Ministry spokeswoman Zhang Qiyue said Thursday.

At a regular press conference, Zhang Qiyue urged all relevant countries to put aside disputes and jointly explore the resources of oil and gas in disputed waters.

Oil companies of China and the Philippines have signed an agreement on energy exploration in the Nansha Islands, Zhang said.

Both sides will research seaquakes and evaluate oil resources in certain waters, Zhang said.

Calling it a significant move for the two countries to implement the Declaration on the Conduct of Parties in the South China Sea, Zhang stressed that 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," Zhang said.