$26.3-Trillion Oil Reserves General Says Country’s Untapped Deposits Mostly In Spratlys


$26.3-Trillion Oil Reserves
General Says Country’s Untapped Deposits Mostly In Spratlys

http://www.mb.com.ph/articles/358043/263trillion-oil-reserves#.UKMeeeTBNoE


MANILA, Philippines- The Philippines is “sitting on a mountain of gold,” with untapped hydrocarbon deposits estimated at $26.3 trillion, mostly found in the disputed Spratly chain of islands, more than enough to free the country from the shackles of poverty.

Brig. Gen. Eldon G. Nemenzo, deputy commander of the 3rd Air Division of the Philippine Air Force (PAF) based in Zamboanga City, made the discovery after researching on the amount of oil reserves of the country for his thesis when he took an advanced course at the Command and Staff College of the PAF in Villamor Air Base, Pasay City.

Interviewed by this writer last Saturday, Nemenzo confirmed the vast oil reserves of the Philippines in various parts of the archipelago, specifically the Reed Bank, the largest of them all, and the Mischief Reef in the Spratly Islands called by the Philippines as the Kalayaan Island Group (KIG).

“The Philippines is like a blind beggar sitting on a mountain of gold. Within the country’s 200-mile Exclusive Economic Zone (EEZ) are potential recoverable hydrocarbon deposits worth an estimated US$26.3 trillion. More than enough to lift the country from the century’s long morass of poverty and underdevelopment,” Nemenzo said.

Nemenzo, an F-5 jet fighter pilot, said the amount of hydrocarbon deposits  in the country could be more than $26.3 trillion following the recent discovery of oil reserves in the Sulu-Celebes Sea which is within Philippine territory.


Philippines  Has Potential Gas Reserves

IN THE PHILIPPINES, THERE ARE 15 OIL/GAS AREAS THAT CAN GENERATE BILLIONS OF DOLLARS WHICH CAN END POVERTY THERE AND CAN MAKE IT A FIRST WORLD NATION

Currently, oil exploration in the Philippines is a discreet operation by the few greedy individuals. This is one of the main reasons why Cybercrime Law has been passed immediately, because it's forbidden to reach the public knowledge.

The areas are
as follows:

AREA 1 CAGAYAN 5440
AREA 2 CENTRAL LUZON 6760
AREA 3 NORTHWEST PALAWAN 6000
AREA 4 NORTHWEST PALAWAN 6160
AREA 5 NORTHWEST PALAWAN 4240
AREA 6 MINDORO CUYO 8400
AREA 7 MINDORO CUYO 8440
AREA 8 EAST PALAWAN 8400
AREA 9 EAST PALAWAN 8400
AREA 10 EAST PALAWAN 6400
AREA 11 EAST PALAWAN 6000
AREA 12 COTABATO 4560
AREA 13 EAST PALAWAN 6480
AREA 14 EAST PALAWAN 9839
AREA 15 SULU SEA 4820

Check the links for confirmation:

http://www.doe.gov.ph/pecr4/area%20for%20offer.html


















AREA 2 (MANILA BAY/CENTRAL LUZON) is capable of producing 30M barrels of oil per day. The estimated volume of total recoverable excluding the unmapped resources in Central Luzon Basin is around 902 million barrels of oil and 12, 937 million cubic feet of gas while AREA 12 (Cotabato) is second to the smallest area that is capable of producing 20M barrels per day.

According to blackpearl.com.ph, there are three onshore and 12 offshore blocks which are offered in the petroleum contracting round, covering a total area of over 10 million hectares located in Northwest Palawan, East Palawan, and Sulu Sea basins.

Areas on offer include: Area 1 (544,000 hectares) in Cagayan; Area 2 (676,000) in Central Luzon; Area 3 (600,000) in Northwest Palawan; Area 4 (616,000) Northwest Palawan; Area 5 (424,000) Northwest Palawan; Area 6 (840,000) in Mindoro Cuyo; Area 7 (844,000) in Mindoro Cuyo; Area 8 (840,000) in East Palawan; Area 9 (840,000) in East Palawan; Area 10 (640,000) in East Palawan; Area 11 (600,000) in Cotabato; Area 12 (456,000) in Cotabato; Area 13 (648,000) in East Palawan; Area 14 (983,900) in East Palawan and Area 15 (482,000) in Sulu Sea.

Sources:http://www.psg.deloitte.com/NewsLicensingRounds_PH_110511.asp



Comments

Popular posts from this blog

Armet Armored Vehicles Gurkha.

Philippine Azkals Football Team post its 2nd tune-up win in Germany against SC Bonner U-19, 4-1.