Public affairs office chief, Lt. Col. Noel Detoyato of the Armed Forces of the Philippines said that the activity to be carried out by an Australian-Filipino consortium would be protected by the Philippine Navy. Its serving for them since they have to protect the territory, the military official did not disclose how many units or which vessels will be deployed to secure the project. The consortium will drill a new deepwater exploratory well in the West Philippine Sea in hopes of tapping a commercially possible oil reservoir.
The military confirmed they would lock plans to drill a new deepwater exploratory well in the West Philippine Sea. The activity would be within country’s 200 nautical mile exclusive economic zones.
The consortium includes of Australia’s Otto Energy Investment Ltd., Red Emperor Resources NL, and Palawan 55 Exploration and Production Corp., which will be spending P1.1billion pesos to drill the well.
