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Petroleum exploration in the Philippines dates back to
1896 with the drilling of Toledo-1 in Cebu Island by Smith & Bell.
Widespread exploration activities were carried out from
the 1950s to 1970s. Exploration then, was governed by
Republic Act No. 387 known as the “Petroleum Act of 1949”
which ushered in the era of the concession system.
The current Service Contract System took effect in 1973
with the enactment of Presidential Decree No. 87, better
known as the “Oil Exploration and Development Act of
1972”. With its attractive contractual terms and liberal
fiscal regime that are particularly favorable to offshore
exploration, activities shifted to offshore areas like the
Northwest Palawan Shelf where the first field, Nido, was
discovered. Several small fields, all located in offshore
Northwest Palawan, were subsequently discovered and
produced. |
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In 1989, relatively large fields were discovered in the
deep waters off Palawan when Occidental tested gas in its
Camago Structure. Alcorn Philippines, in 1990, discovered
the West Linapacan Field and commenced production two
years later until 1996. Also in 1990, Shell discovered
Malampaya gas field becoming, by far, the largest gas
discovery in the country. The field was produced in 2002,
providing clean fuel to Luzon grid.
Onshore in northern Luzon, the Philippine National Oil
Company developed the San Antonio Gas Field in 1994 and
continues to supply gas fuel to the local electric
cooperative in the province of Isabela. |
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