How much oil does Philippines produce?


  • How much oil does Philippines produce?


  • As of 2011, Philippines Malampaya Oilfields is proven to contain 3 trillion cubic feet of natural gas, 40 million barrels of recoverable oil fueling the 2700 MW power plant in Batangas, and 85 million barrels of condensate. Waters surrounding Palawan, southwest island off Manila, hold substantial oil reserves. Galoc oilfields, the newest find, produces 17,000 to 20,000 barrels of crude oil a day. Initial seismic and hydrocarbon surveys conducted early 2009 for the Marantao Petroleum Field showed oil reserve estimate at one billion barrels. The Philippine government awarded, as of 2008, 33 active petroleum service contracts to oil and gas exploration companies.

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