President Rodrigo R. Duterte, together with Department of Energy (DOE) Secretary Alfonso G. Cusi, graced the ceremonial commencement of the oil and gas production of the Alegria Oilfield in Southern Cebu on 19 May 2018.
The Alegria Oilfield is currently operated by China International Mining Petroleum Company Limited (CIMP), with its partners Skywealth Group Holdings Limited and Phil-Mal Energy International, Inc. in a US$8.563 million investment under Service Contract No. 49.
With this development, Sec. Cusi urged more investors in the oil and gas industry to develop the more indigenous energy resources in the country.
Sec. Cusi optimistically expressed, “More oil exploration activities in the country will boost economic activities and generate jobs for our kababayans.
The energy chief also mentioned that this milestone is a proud moment for all the Filipinos. The Alegria Oilfield serves as a major breakthrough in the Philippine oil and gas industry.
The DOE monitors the six (6) exploration wells drilled by CIMP and its partners with its first well in October 2014 until the completion of its sixth well in March 2018.
The six (6) exploration wells resulted in the discovery of oil and gas resources with potential commercial quantities of 27.93 MMBO and 9.42 BCF, respectively. For 2018, CIMP has programmed to drill three (3) additional development wells.
The Alegria Oilfield covers a total area of 197,000 hectares, with about 42,749 hectares devoted to the production area.(DOE)