NEWS TODAY: ONSHORE OIL DISCOVERY IN CEBU

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Oil Discovered in Cebu

CEBU, Philippines - The Department of Energy has approved a two-year technical moratorium on the oil exploration in the Malolos-1 Oil Field in Olango, Aloguinsan, Cebu by an Australian firm, Gas2Grid Limited.
 The moratorium, the company said, will provide sufficient time to complete studies and establish the appropriate completion technology for maximizing sustainable oil production and if successful will lead to full oil field appraisal/development.

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