Polyard-3 Wellsite, Barangay Montpeller, Alegria, Cebu
May 19, 2018
President Rodrigo Roa Duterte, together with Department of Energy (DOE) Secretary Alfonso Cusi, graced the ceremonial commencement of oil and gas production of the Alegria Oilfield at Barangay Montpeller in Alegria, Cebu.
During the event, the President proceeded to the production site for the ceremonial valve opening of the Polyard-3 Well while being briefed by China International Mining Petroleum Company Ltd. (CIMP) Assistant Country Manager Edgar Benedict Cutiongco.
The discovery of the oil and gas resources in Alegria Oilfield was a result of six exploration wells drilled by the CIMP from October 2014 to March 2018. The oil and gas resources carry a potential commercial quantities of 27.93 million barrels of oil (MMBO) and 9.42 billions cubic feet (BCF), respectively. The CIMP is set to drill three additional development wells in 2018.
According to Cusi, the oilfield, which covers 197,000 hectares (with 42,749 hectares for the production area), is considered as a major breakthrough in the oil and gas industry in the country.
Presidential Communications Operations Office (PCOO) Secretary Martin Andanar, Presidential Assistant to the Visayas Michael Dino, Special Assistant to the President (SAP) Christopher Lawrence ‘Bong’ Go, Mayor Verna Magallon of Alegria, Cebu, and CIMP Chair Lam Nam also accompanied the President during the event.
Connect with RTVM
Facebook: www.facebook.com/presidentialcom and www.facebook.com/rtvmalacanang
Twitter: @Watch the video on YouTube
Google+: google.com/+Watch the video on YouTube