MikeLigalig.com

By Kit Bagaipo
Published by the Bohol Chronicle

Another oil seismic survey will take place off northern Bohol coasts in the next few months. This, according to an advisory issued by the Department of Energy (DOE) to Australian oil exploration contractor Otto Energy Ltd.

Otto Energy was advised by the DOE that its subsidiary NorAsian Energy has been ranked as a preferred bidder for an exploration of Service Contract for Area 8 which lies in between Bohol, Cebu and Leyte.

It may be recalled that NorAsian undertook the controversial 2D and 3D seismic oil exploration at the Bohol-Cebu Strait in June last year.

A competitive bidding process has been conducted for the exploration of the said area for a period of seven years, the advisory stated.

The DOE is expected to award the contract soon as the formal terms, work commitments and schedules are being negotiated and finalized.

Area 8 substantially covers the Visayan Basin with an area of about 7,500 square kilometres.