Recent data from China's Ministry of Geology and the US Geological Survey highlights significant potential of hydrocarbons in the Philippines. The Spratly Islands alone are believed to hold 17.1 billion barrels of oil, and with additional discoveries in the Celebes Sea and other areas, the total value of hydrocarbon deposits in the country could exceed $26.3 trillion, surpassing Kuwait's holdings. . Presently contributing a mere 0.19% to the GDP, the oil sector could propel the country to become the second-largest economy in the region, with potential annual contributions exceeding $150 billion This will lower production costs, enhance manufacturing competitiveness, reinforce energy security and drive infrastructure projects. Despite past underfunding and under exploration, the Philippines appears ready for a game-changing shift in its energy and economic landscape with the latest discoveries.

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