Amid the Malampaya gas field’s dwindling resources, an official of the PNOC-Exploration Corporation (PNOC-EC) said three areas in Mindanao could take over in terms of providing the country its own supply of natural gas for baseload power.
At a forum organized by the Davao City Chamber of Commerce and Industry on Thursday, PNOC-EC Vice President for Upstream Operations Jaime Bacud said that the sedimentary basins in the Sulu Sea, the Agusan-Davao area, and the Cotabato area have the potential to produce natural gas, which can lead to the country’s energy independence.
Sulu Sea hosts the Service Contact (SC) 56 exploration block. However, Total E&P Philippines B.V. and foreign partner Jadestone Energy, which used to handle SC56, gave up their exploration venture late last year.
Several areas of the Sulu Sea are also for offer under the Department of Energy’s Philippine Conventional Energy Contracting Program (PCECP). The Agusan-Davao and Cotabato basins are also for offer under the PCECP.
“In the Philippines, we have plenty of still untapped resources. Until now, we have several areas we think are very underexplored,” Bacud said.