ZAMBOANGA CITY – A company in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has allotted about P5 billion to undertake the first phase of an oil exploration project in Subutu and Sitangkai in Tawi-Tawi.
Esmaulana Global Venture Company, Inc. (EMGVCI ) Chairman Datu Esmael Maulana said the project was located at the Sulu Sea basin area 6, which is located at the twin town of Subutu and Sitangkai in Tawi-Tawi.
According to Maulana, EMGVCI and its foreign partners have agreed to allot about P5 billion to undertake the first phase of the off-shore drilling.
Maulana said the Department of Energy (DOE) has also awarded to EMGVCI a similar oil and gas exploration project in the Cotabato basin area 10.
According to Maulana the firm will initially employ about 3,000 Muslim and Christian laborers, and about 50 engineers to undertake the initial phase of the exploration works.
Maulana said the entire Sulu Sea basin has a total area of approximately two million hectares, while the Cotabato basin has an area of approximately one million hectares.
EMGVCI is a Filipino-registered company in the Securities and Exchange Commission (SEC) whose business is oil and gas exploration.
Among the foreign investors which joined the EMGVCI for oil exploration work were a Russian company, the UAB Investicous Statybos Pletraj, UAB “ISP” and the Nation Advantage Sdn. Brhd., based in Kota Kinabalo, Sabah, Malaysia, among others.
“We will be the first oil company in the Bangsamoro Region to engage in large scale oil exploration project in the region,” Maulana said.
EMGVCI Vice President Mocthal Sammah Sapal, will oversee the implementation of the two pipeline projects located in an island southwest of Sibutu municipality in Tawi-Tawi.
For his part former Simunul town Mayor Abdilla H. Sumbing, EMGVCI senior executive assistant to Sapal, said Sitangkai Mayor Tiblan Ahaja has signified his full support to the project which is expected to bring economic development and manpower employment.
Under the Philippine Conventional Energy Contracting Program (PCECP),EMGVCI bid last year to spur exploration in the Sulu Sea basin area 6 which has potential oil and gas reserves, Sumbing said.