Oil survey eyed in Alegria
AN international petroleum consortium signified its interest for oil exploration in Alegria town, southwest Cebu, in the third quarter of this year.
China International Mining Petroleum Company Limited (CIMP) and Polyard Petroleum International Group Limited paid a courtesy call to Cebu Gov. Gwendolyn Garcia to submit their proposed oil exploration yesterday.
CIMP’s country manager Scott North told Cebu Daily News they are aiming to drill two wells by the end of the year.
“If the results are successful, we will be able to develop the area further,” he said.
North said their initial reports showed potential oil deposits in the town.
If the yield is enough, this may lead to possible “commercial development.”
Article continues after this advertisement“Further developments will depend on the exploration work if it will be successful,” he told Cebu Daily News.
Article continues after this advertisementRegional Director Antonio Labios of the Department of Energy in Central Visayas (DoE-7) said they hope the exploration would yield oil deposits of “commercial quantity.”
The oil exploration project is under Service Contract No. 49, which covers an area of 197,000 hectares.
Labios said the proposed oil exploration will be done onshore and no fishing activities will be affected. Correspondent Carmel Loise Matus
