Where to find oil and gas in the Philippines: Proven reserves
Increased exploration, drilling pace amid renewed push for energy security
Manila: Does the Philippines have oil and gas?
Quick answer: Yes.
Do most Filipinos know it, or benefit from it?
Most probably not.
Evidence: the country has a double-digit poverty rate, at 13.6% vs its neighbours (6.2% in Malaysia and 8.2% in Thailand), based on WB and Philippine Statistics Authority data for 2024.
So how much oil does the country have?
According to Statista, citing official Department of Energy (DoE) data, the island nation holds 139 million barrels of "proven" reserves, as of 2024.
That's equivalent to an estimated market value of $9.61 billion (based on mid-2025 oil market data).
There could be more.
The key: ramping up the pace of exploration.
The Philippines is said to be “sitting” on a gold mine of untapped hydrocarbons.
This is a largely unproven claim, but worth noting: Since the 1970s, only a few wells had been drilled, supplying a small chunk of the domestic oil and gas demand.
There’s mounting evidence of higher fossil fuel resources in the highly-mineralised archipelago.
The Department of Science and Technology (DOST) has described the archipelago as “rich” in mineral resources, particularly gold, copper, nickel, and chromite, with significant deposits of other minerals like silver, iron, and cobalt.
Reason: The country’s location within the "Pacific Ring of Fire" contributes to its abundant metallic mineral deposits.
The country is also the third-largest producer of geothermal power.
What about oil and gas?
Currently, actual fossil fuel production volumes are considered “modest” compared to world oil and gas producers.
Yet, the Philippines is believed to be “sitting on” significant hydrocarbon potential, especially in the West Philippine Sea, Mindanao, and central Visayas.
Several oil and gas platforms are already in production, while others are still being explored or are untapped.
Here’s a detailed look:
Evidence and key locations
1. Malampaya Gas Field
Location: Offshore, northwest of Palawan.
Significance: The largest and most important natural gas field in the Philippines, operational since 2001.
Reserves: Proven reserves were initially 2.7–3.2 trillion cubic feet (Tcf) of gas. As of 2017, it had produced 1.94 Tcf of gas and 75 million barrels of condensate oil. Also, 1.9 million barrels of crude oil were produced from its oil leg in 2001-2002, as per the Philippines Department of Energy (DoE).
Current status: The field is reportedly “depleting”; ongoing exploration (Phase 4) is expected to extend its productive life.
2. Alegria Oil and Gas Field
Location: Onshore, Alegria, Cebu (Central Visayas).
Reserves: Discovered in 2014, with production from 2018. Estimated reserves are 27.93 million barrels of oil (with about 3.35 million barrels recoverable) and about 9.42 billion cubic feet (bcf) of natural gas, of which around 6.6 bcf is recoverable.
Importance: One of the few new onshore discoveries and producers in the country.
3. Cotabato Basin and Liguasan Marsh
Location: Mindanao (BARMM area).
Reserves: Liguasan Marsh is estimated to hold 3.4 Tcf of natural gas and 4.8 billion barrels of crude oil (though much is still unproven and remains unexplored).
Status: 29 bcf of gas already discovered; Sulu Sea (offshore) and Cotabato Basin (onshore) together have a combined potential of over 360 million barrels of oil equivalent, based on DoE exploration data.
4. Other important prospective areas
West Philippine Sea: Disputed territory believed to have 17.1 billion barrels (valued at $26 trillion) of oil under the Spratlys alone, according to Philippine News Agency 2018 report.
Ragay Gulf, Mindoro, Cagayan Basin, Northern Cebu, Visayan Basin, Sulu Sea, Celebes Sea, Bondoc Peninsula: All these onshore and offshore regions have signs of hydrocarbons, with some already producing small volumes or identified as future exploration targets.
Quantities found so far (proven and potential)
Proven oil reserves: About 138.5 million to 139 million barrels as of 2024, as per Statista.
Alegria Field: 27.93 million barrels of oil in place (3.35 million barrels recoverable), 9.42 bcf of gas (6.6 bcf recoverable).
Malampaya Field: Over 2.7–3.2 Tcf of gas originally, with 1.94 Tcf already produced by 2017, as per DoE.
Cotabato Basin/Liguasan Marsh: 3.4 Tcf of gas, 4.8 billion barrels of crude (potential), of which 29 bcf of gas is confirmed.
Spratlys: Up to 17.1 billion barrels (much remains disputed and unexplored).
| Area | Location | Resource | Estimated Quantity (found/proven) |
|---|---|---|---|
| Malampaya | Offshore Palawan | Natural gas, condensate | 2.7–3.2 Tcf gas, 85 million barrels condensate |
| Alegria | Onshore Cebu (Visayas) | Oil, gas | 27.93 million barrels oil, 9.42 bcf gas |
| Cotabato/Liguasan | Onshore Mindanao | Gas, oil | 3.4 Tcf gas, 4.8 billion barrels oil (potential) |
| Spratly Islands | Offshore (disputed, W. Philippine Sea) | Oil | 17.1 billion barrels (potential, unproven) |
| Visayan Basin | Offshore/onshore Cebu | Oil, gas | 26.3–31.9 million barrels oil (potential) |
Most of these estimates reflect total resources — though what’s technically recoverable may be less.
Bottomline: Much remains unproven or unexplored, especially in disputed or less accessible areas (due to natural, geopolitical and insurgency challenges).
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