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President Rodrigo Roa Duterte, together with Department of Energy (DOE) Secretary Alfonso Cusi, graces the ceremonial commencement of oil and gas production of the Alegria Oilfield at Barangay Montpeller in Alegria, Cebu on May 19, 2018.
During the event, the President proceeds to the production site for the ceremonial valve opening of the Polyard-3 Well while being briefed by China International Mining Petroleum Company Ltd. (CIMP) Assistant Country Manager Edgar Benedict Cutiongco.
The discovery of the oil and gas resources in Alegria Oilfield was a result of six exploration wells drilled by the CIMP from October 2014 to March 2018. The oil and gas resources carry a potential commercial quantities of 27.93 million barrels of oil (MMBO) and 9.42 billions cubic feet (BCF), respectively.
According to Energy Secretary Cusi, the 197,000-hectare Alegria Oilfield is considered as a major breakthrough in the oil and gas industry in the country.
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Video credits to Philippine Government Media YouTube channel