PRRD Opens Alegria, Cebu Oil Field Which Can Produce Hundreds Of Oil Barrels A Day

“Sariling atin!” President Duterte opens Alegria, Cebu oil field which can produce hundreds of oil barrels a day. This event marks the opening of the said oilfield for commercial production which can last until 2037. According to Department of Energy, the oil field has a total production area of 42,749 hectares. They added that the Alegria Oilfield is considered as a major breakthrough in the oil and gas industry of the country. The government would get 60 percent share in the project’s revenues (8% share to Cebu Province, 18% to Alegria town and 14% to the host Barangay Montpeller.) while the service contractor would get the remaining 40 percent.