Author Topic: Oil Discovery in Palawan, Philippines  (Read 4152 times)

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Oil Discovery in Palawan, Philippines
« on: October 16, 2008, 11:20:31 PM »
By Joe Espiritu
Sunday Post Columnist

The Philippines will be experiencing the effects of a financial but a piece of news offsetting that is the report of a major oil discovery in northwestern Palawan. It says that the deposit would supply 60% of the country's needs in the next few years. That is if the oil is sold solely here. There may be more. This only goes to show that there is oil in the Philippines in commercial quantities and it needs only to uncover the deposits.

During the Six-Day Arab - Israeli War, the oil producing Arab countries refused to sell oil to western countries sympathetic to Jewish cause. This caused the western industries to grind almost to a halt. A frantic search for alternative sources of fossil fuel supply ensued. European nations discovered vast sources in the stormy North Sea. Nearer home, the Malampaya Sound in northwestern Palawan was explored. Preliminary survey showed possible presence of oil. Service contracts were leased to oil exploration companies.

The first to discover oil deposits was the Oriental Petroleum. When peace was restored in the Middle East, the Arabs resumed shipping out oil. Offshore oil discoveries were not developed since it was cheaper to buy Arab oil mined beneath the desert sands than in offshore areas. However, the industries of the European nations refused to be held hostage to possible Arab oil embargo that they developed the North Sea oil fields. Further Palawan oil explorations slowed down. Discovery wells were capped. But a large deposit of natural gas was discovered and developed. When the oil in the world market rose over a hundred dollars per barrel production wells were drilled in the discovery areas of Cadlao, Nido and Matinloc.

Initially, when presence of oil deposit is suspected, the area is subjected to gravity meter or seismic exploration. When a promising spot is located, a test well is drilled. If no oil is found the prospector tries again farther. This makes oil prospecting a highly speculative area where few Philippine companies will venture.

If the prospector is lucky, he may hit a deposit. Oil may spurt out of the well as a gusher or has to be pumped out. To determine the extent of the deposit called the oil horizon, several test wells are drill around and away from the initial well.

Each successful well will be then be converted into a production well. Since the presence of Palawan deposits are relatively close to each other, the reserves must be connected thus extensive. We hope.

There must be oil also in the Visayan Sea, somewhere between Negros, Cebu and Bohol. Exploration, though sporadic, is already going on. Since drilling is expensive, the area must have passed extensive survey. Should oil be found in those areas, fishermen may protest loud and long but their objections would be futile, as local interest must give way to national welfare.

Palawan oil or any oil that may be discovered in the Philippines would be of premium quality. The deposits have been classified as light, sweet crude. That means it has less dregs, after refining and relatively free of dissolved sulfur, which would corrode cracking facilities in a refinery. It was said that oil of this quality like Borneo oil during the war could be pumped directly to warships without passing refineries. It could be possible since most ship use bunker fuel.

Palawan offshore area may produce enough oil to make us self sufficient. We do not have to be an oil exporting country. If, like the natural gas produced in the same area can be piped directly to refineries in Luzon, transporting costs will be lessened. Refinery byproducts would be raw material for other industries like synthetics and plastics. If this will ever happen, there will be lesser and lesser OFWs.

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Re: Oil Discovery in Palawan, Philippines
« Reply #1 on: October 16, 2008, 11:39:06 PM »
according to reports, oil found in palawan will be sold outside of the country since the price is high. we will feel the effect when they will find another source that can supply oil to the country. in which search is still on going since they said the area has more oil deposits. it was confirmed by former DOE secretary vincent perez who is one of the incorporators of the company that extracts oil in palawan.

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