Let oil and gas search start in EEZ — solon
THE Department of Energy (DOE) has been urged to allow immediate exploration for natural gas and crude oil in Recto Bank off Palawan.
Cagayan de Oro City Rep. Rufus Rodriguez said this is within the country’s 200-mile exclusive economic zone (EEZ).
He said the DOE should lift its order suspending exploration activities in the area so that its service contractor can proceed to do its obligations under its contract.
The contractor is Forum Energy, which is controlled by billionaire businessman Manny Pangilinan.
“We understand that Forum Energy is raring to explore Recto Bank for gas and oil. We support the contractor’s plan to go into exploration activities. We call on the DOE to give its go-signal,” Rodriguez said.
The veteran solon said that DOE and other concerned government agencies, including the Department of National Defense, should help Forum Energy in its undertaking.
“They are doing it not just for themselves but for the nation and the national interest,” he stressed.
The Mindanao lawmaker pointed out that Recto Bank is believed to hold gas and oil reserves much larger than those in the Malampaya gas project, also in Palawan.
Malampaya supplies much of the natural gas fuel required by power plants in Luzon. It is projected to dry up in a few years.
“Recto Bank will be our replacement for Malampaya,” Rodriguez said.
He said if Malampaya dries up without gas being extracted from Recto Bank, power plants in Luzon would be forced to use more expensive fuel.
“That will result in an increase in the cost of electricity in Luzon, which will not be good for all of us and the government of President Bongbong Marcos,” he said.
