By MYRNA M. VELASCO
Japan Petroleum Exploration Co. Ltd. (Japex) and Forum Exploration Inc. have already completed their scheduled two-week initial exploration activities in their oil and gas reservoir prospects in the Visayas basin.
Japex had undertaken seismic surveys in Tanon Straits in Negros Occidental while Forum Exploration cornered exploration venture in northern Cebu.
The Department of Energy (DoE), however, has not reported if there are indeed any advance information on indications of oil and gas reserves which are potential for commercial development.
Instead, Energy Undersecretary Guillermo Balce noted that in the areas where Japex held some seismic surveys, "some of the fishing structures were damaged," though these are only minimal.
The North Cebu and Tanon Straits prospects, it was said, are considered to be one of the most promising petroleum fields in the country.
"The seismic surveys that were conducted are crucial to the Philippine economy because the Visayan basin has one of the biggest petroleum resource potentials of about 1 billion barrels of oil equivalent in place," Balce stressed.
He added "we only need to find the locations of these petroleum deposits and confirm commercial quantity."
In view of the occurrence at the Japex seismic surveys, the energy official has reassured that exploration firms have always been required to adhere to strictest safety standards in conducting geological activities as mandated in the contract with the DoE to protect the environment and the people in the area.
He explained that the release of compressed air during the surveys does not destroy the seabed, coral reefs or other forms of marine life.
As a normal standard operating procedure, the DoE together with the exploration firms conduct consultation with the people in the different coastal towns and barangays.
"The consultations are aimed at educating the local residents and officials before any seismic survey is done," Balce said.
For safety reasons, all fishing vessels, passenger ferries and commercial vessels are also requested to stay at five kilometers away from the site to avoid damage to these vessels and fishing equipment.
The seismic surveys are part of the petroleum exploration program as stated in the service contracts signed by the DoE with Japex and Forum Exploration to explore for indigenous energy sources amidst rising fuel prices. (MMV)
