By: Elena Grace Flores
Sa Iyong Araw
[VIDEO]: Oil Exploration is set to start with an Australian firm in Palawan
The Malampaya gas field or the Malampaya-Camago field is a deepwater gas-condensate reservoir. It is located in the Service Contract 38 license area, situated offshore, 65 km northwest of the island of Palawan, Philippines. Now, oil exploration is about to start in the same region under the Marcos administration.
Just before the sufficiency of the local gas supply, another industrial development is happening. The Philippines had significant petroleum discoveries in the past. It now has producing oil fields in the Northwest Palawan Basin. President Ferdinand Marcos Jr. already announces that the Department of Energy (DOE) allows an Australian petroleum company to start surveying its drilling locations for exploration and appraisal at the Cadlao oil field in Palawan.
Marcos said that the DOE allowed Nido Petroleum Philippines Pty. Ltd. to start the site survey in their service contract areas by the last quarter of 2022. The activities will pave the way for the drilling of 2 wells. Marcos added that this action may lead to oil production as early as the second half of 2023.