Philippines Oil And Gas News
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Philippines Oil and Gas Profile

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Introduction

  • As of June 2011, the potential petroleum resources of the Philippines totalled to 27,905 million of oil initially in place and 53,870 billion cubic feet of gas in place. The estimated recoverable discovered and undiscovered resources include 1,892 million barrels of oil, 10,349 billion cubic feet of gas and 164 million barrels of condensate.
  • These petroleum reserves calculations are based on the sixteen sedimentary basins situated all over the country from the Cagayan Valley Basin in the north down to the Agusan-Davao Basin in the south as well as the prolific Northwest Palawan Basin and the Sulu Sea Basin along the western flank of the archipelago. These basins extend on both offshore and onshore areas. The offshore regions comprise both shallow to deepwater areas for exploration.

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