Sunday, June 15, 2008

Palawan's Energy Deposits: Gas and Oil Fields

Palawan, apart from potential magnet of Philippine tourism, sits on a huge energy deposits. Earlier it was the discovery and now operational Malampaya Deep Wayer Gas to Power where natural gas supply is piped to Batangas then the recent start of operation of the Galoc Oil field.

The Galoc oil field's production can produce 10% of the Philippines' oil supply needs, not much compared to neighboring ASEAN countries i.e. Brunei and Malaysia, both members of the powerful OPEC block, but at least brings a ray of hope to more discoveries for oil deposits not only in Palawan but in other areas of the country.

The recent entry of ExxonMobil, the world's top oil producer, in oil exploration in the country bodes well of the confidence of foreign firms in the potential gas and oil finds after 2D and 3D seismic explorations.

Related Palwan Posts:

Cuyo Island
Iwahig Prison Farm
Coron, Busuanga, Calamianes
Crocodile Farm, Tubbataha

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