Jobs, business opportunities seen in Cebu oil discovery

By Reno Tallada and Joworski Alipon, ABS-CBN News Central Visayas

Posted at Jan 10 2014 06:44 PM | Updated as of Jan 11 2014 02:44 AM

CEBU – The Department of Energy (DOE) in the Visayas believes that the discovery of oil in Central Cebu can generate jobs for the local residents in the area.

DOE-7 Regional Director Antonio Labios said the presence of oil found in the well located at Barangay Olango, Aloguinsan can boost the economic system of Cebu in general.

He said the operation itself can generate jobs to the local residents, but noted that their office will still give Australian firm Gas2Grid Ltd. another year to probe the quantity of the oil.

Gas2Grid started the oil exploration in January 2004 when they received the department’s service contract to explore Malolos-1 well.

Labios said the result of the production test will determine if the oil is sufficient enough to answer the energy problem of the country. He also assured that the environment will not be harmed in the process.

The acting mayor of Aloguinsan, Augustus Cesar Moreno, said so far, they have not received any complaints from the people of Aloguinsan regarding any activities hazardous to their health and the environment.

He said that for the past 10 years of the company’s operation, they have not created any harm.

Moreno added that more than 40 people from Aloguinsan have worked for the company in their oil exploration.

“This is for our advantage, with the discovery of oil, a lot of investors will come in. A lot of businesses will be put up, a lot of people will have work,” said Moreno.

The mayor said explorations at the Malolos-1 have been on and off since 1959.