Win, Robin seek Senate hearings on PH energy self-sufficiency READ:
On the other hand, Sen. Robin Padilla has high hopes for positive results from oil and gas exploration activities in the Philippines, especially in the WPS.
Data from the Department of Energy show that as of 2021. there is an estimated 6,203 million barrels of total oil resources and 12,158 billion cubic feet of total gas resources in the WPS.These are Service Contract 54 held by Nido Petroleum Philippines Pty Ltd. in Offshore Northwest Palawan, SC 58 held by Nido Petroleum in West Calamian or Northwest Palawan, SC 59 held by the Philippine National Oil Company-Exploration Corp. in Southwest Palawan, SC 72 held by Forum Ltd.
According to Gatchalian, the adverse effect of dependence on imported fuel was felt recently with the Russian invasion of Ukraine raising global crude oil prices from $50/barrel in January 2021 to $120/barrel in March 2022. “There is no time to lose for the Philippines to discover and exploit such resources due to the possibile shortage of energy supplies in the coming year,” he said.
Padilla authored Senate Resolution No. 9 calling on the President to resume discussions for joint oil and gas exploration in the West Philippine Sea.
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