President Duterte opens Alegria oil fields in Cebu for commercial production

President Rodrigo Duterte officially lead the ceremony for the commencement of oil and gas production of the Alegria oil fields at Barangay Montpeller, Alegria in Cebu City. According to an interview by Manila Bulletin to the Department of Energy (DOE-7) OIC Regional Director Engr.Saul Gonzales, the oil field are composed of natural gas and crude petroleum deposits with estimated quantities that will last until 2037. 

Gonzales said the Alegria oil fields have 9.42 billion cubic feet of natural gas reserves with a potential of 70 percent for extraction, or an estimated 6.6 billion cu/ft of recoverable resource for commercial use.

The crude petroleum, on the other hand, has an estimated 27.93 million barrels of oil (MMBO) with a possible production recovery of 3.35 MMBO ,or a conservative estimate of 12 percent of total oil in place/reserves, Gonzales added.

The news said that Alegria Mayor Verna Magallon welcome the development as an opportunity for the town to improve economic activities and generate more jobs.

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