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PNOC Exploration Corporation is the upstream oil, gas and coal subsidiary of the state-owned Philippine National Oil Company. A government owned and controlled corporation, the Company was incorporated on April 20, 1976, and is mandated by the government through the Department of Energy (DOE) to take the lead in exploration, development and production of the country’s oil, gas and coal ...
This was the first oil and gas platform to be designed and built in the Philippines, and its successful completion has made the country a player in construction for the oil and gas industry. The upstream component of the US$4.5 billion Malampaya gas-to-power project was expected to provide substantial long-term revenue of between $8 billion ...
Before any extraction begun, it was estimated that the Alegria oil field had an oil reserve of 27.93 million barrels with a probable production recovery of 3.35 million barrels. The Alegria field is also a natural gas field hosting an estimated 9.42 billion cubic feet of natural gas. It is estimated that the reserves will last until 2037.
Oil exploration expenditures are greatest when crude oil prices are high. Hydrocarbon exploration is a high risk investment and risk assessment is paramount for successful project portfolio management. Exploration risk is a difficult concept and is usually defined by assigning confidence to the presence of the imperative geological factors, as ...
The Philippines and China have resumed discussions about jointly exploring oil and gas resources in the South China Sea, where the two nations have sparred for decades over sovereign rights to ...
The oil and gas industry is usually divided into three major sectors: upstream (also called exploration and production or E&P), midstream and downstream. [1] [2] The upstream sector includes searching for potential underground or underwater crude oil and natural gas fields, drilling exploratory wells, and subsequently operating the wells that recover and bring the crude oil or raw natural gas ...
Wellex Industries, Inc. is a Filipino company engaged in mining and oil exploration in the Philippines. Currently headquartered in Ortigas Center, Pasig City, it is one of The Wellex Group's six major business segments. [2] The company was founded in October 1956 as Republic Resources and Development Corporation (also known as REDECO
The Department of Energy (Filipino: Kagawaran ng Enerhiya, abbreviated as DOE) is the executive department of the Philippine government responsible for preparing, integrating, manipulating, organizing, coordinating, supervising, and controlling all plans, programs, projects and activities of the Government relative to energy exploration, development, utilization, distribution and conservation.