The seismic surveys which lasted for two weeks were conducted by Japan Petroleum Exploration Co. Ltd. (Japex) and Forum Exploration Inc. Japex is the DOE’s service contractor for petroleum exploration over the Tañon Straits in Negros Occidental while Forum Exploration is for oil and gas exploration in North Cebu.
Energy Undersecretary Guillermo R. Balce said the seismic surveys are part of the petroleum exploration program in the service contracts with Japex and Forum Exploration to explore for indigenous energy sources amid rising fuel prices.
Balce said the North Cebu and Tañon Straits, located in the Visayan Basin, are considered among the most promising petroleum fields in the country.
"The seismic surveys that were conducted are crucial to the Philippine economy because the Visayan basin has one of the biggest petroleum resource potentials of about one billion barrels of oil equivalent in place," he said. "We only need to find the locations of these petroleum deposits and confirm commercial quantity."
The energy official assured that exploration firms are required to adhere to the strictest safety standards in conducting geological activities as mandated in the contract with the DOE to protect the environment and the people in the area.
He said as a standard operating procedure, the DOE, together with the exploration firms, conduct consultations with the people in the different coastal towns and barangays. The consultations are aimed at educating the local residents and officials before any seismic survey is undertaken.
For safety reasons, all fishing vessels, passenger ferries and commercial vessels are also requested to stay five kilometers away from the exploration site to avoid damage to these vessels and fishing equipment.
However, in the case of the seismic survey done by Japex, Balce said the DOE received reports that some of the fishing structures were damaged.
While pointing out that these are minimal, Balce said Japex has committed to assume obligations related to these incidents.