Oil and gas exploration companies on Monday called for more thorough studies on the country’s sedimentary basin including the West Philippine Sea, which is rich in petroleum resources.
“We have to ensure that our sedimentary basins are well studied because it’s really the foundation of future explorations we have,” PNOC Exploration Corp. president Rozzano Briguez said during the Philippine Energy Transition webinar organized by the Philippine Energy Independence Council and the European Chamber of Commerce.
Briguez said state-run PNOC EC, the Department of Energy and the University of the Philippines started a study two years ago.
“In other countries, our neighbors are really having studies of their entire geological basin. In the Philippines, unfortunately, we don’t,” Briguez said.
“Right now it is in full swing with the DOE and again UP so that we can study 16 sedimentary basin that we have, so that, as we move forward, we can really be proud of trying to invite investors first to our country so that we can entice them,” Briguez said.