Author Topic: China International Mining Petroleum Company  (Read 1222 times)

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China International Mining Petroleum Company
« on: March 19, 2018, 08:42:46 AM »
China firm to start oil drilling in Alegria
March 4, 2014, Tuesday | by: Xerxes Alkuino

http://www.cebu.gov.ph/news/china-firm-to-start-oil-drilling-in-alegria/

A Chinese firm, China Internal Mining Petroleum Company Ltd. will start its oil exploration project in Barangay Montpeller, Alegria, south of Cebu in the next few months.

Department of Energy (DOE) 7 Director Antonio Labios said the area has potential oil deposits. This was based on the previous oil drilling activities in the same area but were not able to reach the deeper ground, which a large number of oil deposits may be found.

“They hope that with the modern technology they could go as deep as more than 1,000 to 2,000 meters deep,” he told the media in an interview on Monday, March 3.

Vladimir Gerchikov, the company’s country manager said, they have already acquired a service contract from the DOE. The company is already in the process of entering a lease contract for the oil field in Alegria.

Gerchikovand company briefed Governor Hilario P. Davide III and Vice Governor Agnes Magpale on Monday, March 3 about the project in a meeting arranged by Dir. Labios.

The officials of the municipality of Alegria, lead by Mayor Verna Magallon, were also present during the meeting at the Capitol.

Gerchikov said they are asking the governor’s and the community’s support on the “major project,” which would highly benefit the province.

Governor Davide supported and wished luck for the company in its oil drilling activity. The governor said his main concern is only the safety of the environment and of the local folks.

“Angimportantegyudparanako as governor, nga no adverse effect kinisaatong environment and the people in the municipalities where they are drilling are protected gyud,” the governor said.


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China International Mining Petroleum Company Limited Key Developments
China International Mining Petroleum Company Limited Receives Approval Plan for Development of SC49 Block
Dec 20 17

https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=102222579

The board of directors of the Polyard Petroleum International Group Limited announced that on 19 December 2017, the Department of Energy of the Government of the Republic of the Philippines has granted the approval of the Plan of Development for oil for the SC49 Block to China International Mining Petroleum Company Limited. The approval of the Oil POD will serve as the basis for the Joint Declaration of Commerciality.


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The map below comes from the following document.



SC 49 covers the bottom quarter of Cebu island.



Barangay Montpeller in Alegria appears below.