A major commercial natural gas supply has been explored by the Philippine National Oil Company-Exploration Corp. (PNOC-EC) at its Mangosteen project in Santiago City, Isabela.
According to PNOC-EC chair and former Manila mayor Gemiliano Lopez Jr., the Mangosteen flared up at around 11:45 pm last Monday, 29th of June. The flaring indicated a successful gas find.
Records show that the Mangosteen field has a recoverable resource potential of 71-billion cubic feet of natural gas reserves that could provide to the Luzon power grid for 15 years or more.
As stated by a company insider, upgrading the Mangosteen project to a gas-to-power project like Malampaya, 100 percent of its revenue will go to the government.
Should it succeed in producing oil from this prospect, it could supply roughly 10 percent of the country’s crude oil demands.