Israel oil firm desires to invest in PH Rise

Israel oil firm desires to invest in PH Rise




President Rodrigo Roa Duterte’s plan state visit in Israel is already reaping benefits even before he has set foot in the Jewish state.

Duterte said he will push through with the plan visit even if it would entail high costs for the government.

(photo credit to PowerPhil)
 
“Pupunta ako ng Israel, why? Because it is heating up. There are 28,000 Filipinos there. I have to go to Jordan because there are 48,000 Filipinos. I have to make sure,” Duterte said before a gathering of local chief executives a week ago in Cebu City.

An Israeli oil company is taking notice of investing in the Philippines- Israel Oil Firm Ratio Oil Exploration Ltd. Has already made public its intention in exploring methane gas hydrates potential of the Philippine Rise through the Department of Energy (DOE).

DOE revealed the intention of Ratio Oil even before the President will set foot in Israel, part of his delegation would be DOE Secretary Alfonso G. Cusi and other energy officials.

“Ratio Oil is looking at the methane gas hydrates prospects at the Philippine Rise,” an energy official said.

The newly declared Philippine Territory – the Philippine Rise is open for investors in the Philippine Conventional Energy Contracting Program (PCEP) for the oil and gas sector.

Such project is part of the DOE’s “unsolicited proposals” in the newly altered contracting round in the upstream petroleum investment terrain.

DOE declares that methane or gas hydrates is a potential success of “unconventionals” in the petroleum sector, once viable technology application underpins its commercial development viability.

Harnessing the potential in methane hydrates would follow the success set by the shale gas revolution in the United States, which was an innovation that changed the gas industry worldwide.

Currently many countries such as Japan and Canada are testing how gas hydrates can be part of the world’s energy future landscape.

 

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10 Comments

  1. Very good and benefit for us filipino especially for the poor...

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  2. Goodluck Sir/Mr President for the visit to our ofw in Israel & Jordan & for the future investment. Mabuhay po kayo...

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  3. Wow...goodluck Tatay Digong God bless...

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  4. For better Philippines, go go go!!!

    For future of this generation and generations to come.....

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  5. Israel is fair. This is their gratitude to the Pilipinos who help the Jewish who sook refuge during the Nazis and made thier home n the ohilippines.

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  6. Wow its a good news again for php.

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  7. For the good of the Philippines

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  8. Among Bisaya nga Presidente Pag Amping sa Byahe ninyo Tatay Digong... Ilikay mo sa Ginoo ug Panalanginan mo sa inyong Byahe uban inyong Gabinite aran makabalk pa mo sa atong Nasud sa Pilipinas.... Godbless President Digong Duterte..

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