How Rich The Recto Bank Or Reed Bank In Natural Gas And Oil
Recto or Reed Bank – As the ruling of the Permanent Court of Arbitration (PCA) was sent over the case filed by the Philippines against China’s massive territorial claims in the West Philippine Sea, will the explorations of the Reed bank or Recto bank be continued?
The Recto Bank or Reed Bank that was just about 70 nautical miles from Palawan, was also being claimed by China even though the said area is enclosed within the Philippine Exclusive Economic Zone (EEZ). Now, what makes the Reed Bank so important for the Philippines?
According to a report by Interaksyon, the US Energy Information Administration estimated that the Reed Bank might contain about 4.6 trillion cubic feet of natural gas and about 115 million barrels of oil. While the West Philippine Sea, according to their research, can contain up to 55.1 trillion cubic feet of natural gas and 5.4 billion barrels of oil.
The Philippines has already started exploring in the said region since 1970 but was stopped due to the territorial claims by other countries like China.
Currently, the Malampaya gas field supplies about 40 percent of Luzon’s energy requirement. Thus, if the gas exploration on the Reed Bank will be continued, it could supply the more of the country’s needs.
In a report by GMA News, Senior Associate Justice Antonio Carpio said that the exploration for natural gas in the Recto Bank must be done immediately since Malampaya will run out of gas in the coming 10 to 12 years.
The Department of Energy even calls the Recto Bank “Untapped Mountain of Gold” because of the richness of the natural gas and oil present there.
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Do you think that the Philippines could hit the oil reservoir with the possible explorations on the Recto or Reed Bank?
Do you think this is one reason why China is just aggressively extending its territory in the region?
Share us your thoughts in the comments below.
absolutely