THE PHILIPPINES

(in Southeast Asia)

CAPITAL: MANILA

POPULATION: 90 mm

AREA (on): 300,100 km2

OIL PEAK: 2009

SUPPLY

The Philippines produces negligible amounts of onshore gas but began producing offshore gas from the deep water Malampaya-Camago complex in the Palawan basin north west of Palawan Island in 2001. Gas production continues to rise and should do for at least a decade.

The country has also had minor offshore oil production from the same basin since 1979 but output of natural gas liquids and condensate from Malampaya-Camago now dwarfs these almost depleted fields. Output of oil has risen steeply both as a result of these liquids and as marginal fields are developed but, on current prospects, 2009 may mark the peak.

 

DEMAND

The Philippines imports most of its oil and, although its economy has grown substantially over the last two or three years, high prices have reversed oil demand growth. Consumption is expected to remain flat for the next decade.

Meanwhile gas consumption has increased rapidly in line with production and new markets should be created as the country accesses more of its gas. Several potential new developments in Philippine waters have been identified.

 

 
 

 

 

This is a simple forecast - detailed forecasts including offshore and onshore, deep water splits, sedimentary basins and major fields and drilling etc. can be purchased for most countries.

 

An onshore and offshore oil and gas production, consumption and drilling activity forecast report on this country can be commissioned,

including all relevant charts. Contact us for price and contents list.

 

Spot any errors? - please CONTACT US with comments.     About Us | Terms/Conditions | Disclaimer | Caveats/Definitions | Advertise

 Copyright 2010 Energyfiles Ltd. All rights reserved