Large Oil Deposits found in Cebu

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A new oil discovery in Cebu declared by the Department of Energy (DOE) is expected to help the country which is heavily dependent on imported oil.

The Australian Oil Company, Gas2Grid, has finally announced that Malolos 1 oil well is ready for commercial production. The discovery of oil in Aluguinsan Cebu is the biggest oil discovery in the Philippines and could ease import pressure according to the Department of Energy.

Gas2Grid successfully perforated and flow tested two oil bearing sandstones in Malolos-1.

“Oil was produced on short term test at indicative production rates of between 100 to 200 barrels of oil per day (bopd) … Previously drilled wells, Malolos-1 and Malolos-4, recorded oil bearing sandstones over a 496 metre (1,627 feet) vertical interval. The recent oil test production rates (between 100 – 200 bopd) confirm Malolos-1 as an oil discovery well.

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