Hello everyone and welcome back to Interesting Flow! We all know the countries with oil and gas are super duper rich! so in today’s video we’ll talk about how Phillipines might be next one as its oil and gas industry keeps flourishing! so without further due lets begin

Is it true that oil and gas are found in the Philippines? The short answer is yes. Most likely more than enough to meet the needs of the domestic market, with some left over to sell abroad.
Minerals, farmland, timber, coastal areas, and marine life are just some of the things that the Philippines has a lot of. It is thought that the country's wealth comes from its natural resources, which help the country's gross domestic product (GDP) grow steadily.
It has been shown that fossil fuel resources can be found in many different places across the country, both in terms of length and width.


Most of the undiscovered hydrocarbon deposits are in the disputed Spratly group of islands, which means that the Philippines is "sitting on a mountain of gold." This is more than enough to get the country out of poverty.



Other possible deposits are thought to be in the northern province of Cagayan, the Ragay Gulf in Bicol, off the coast of Mindoro, the new Palawan block, northern Cebu, and the Cotabato Basin. Some of the oil and gas is found in the disputed Spratly chain of islands, where active oil fields now supply the rest of the country.

In 2018, the Department of Energy (DOE) and a service contractor from China International Mining Petroleum Co. Ltd. (CIMP) found an estimated 27.93 million barrels of oil on land in Alegria, Cebu. About 12% of this amount, or 3.35 million barrels of oil, was thought to be recoverable. Natural gas reserves in the area are thought to be worth 9.42 billion cubic feet, with up to 6.6 billion cubic feet of gas that can be used. About 70% of the total estimated gas reserves come from this discovery.




Even though the oil deposits have been there for a long time, no one has bothered to use them yet. It's too bad this happened, because the country's economy could have grown faster if it had been able to use these oil riches.

If these reserves were finally used, the Philippines wouldn't have to pay so much for oil from other countries. In fact, the country would become an exporter of oil products and offer a way to stop the price of gasoline from going up every week without being stopped.

Eldon G. Nemenzo, who is now retired, was a pilot and the former deputy commander of the 3rd Air Division of the Philippine Air Force (PAF) in Zamboanga City. He did a lot of research for his thesis while he was still in the military and taking an advanced course at the Command and Staff College of the PAF in Villamor Air Base, Pasay City. Nemenzo has now left the PAF after a long and successful time in the military.

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