AUSTRALIAN-controlled Nor-Asian Energy Limited is set to start site survey efforts early next year as it searches for oil in the seas off Argao town in southeastern Cebu island.

Department of Energy-Visayas field chief Antonio Labios told the BusinessMirror that NorAsian is currently doing the round of public consultations among affected localities and fisherfolks.

“This is part of the process they have to go through before they could start exploratory drillings,” Labios told the BusinessMirror.

He said the consultations aim to assure the fishing community that the planned site survey will not affect their livelihood.

NorAsian is a company jointly owned by Australia’s Ottoman Energy Ltd. and AustralAsian Energy Ltd.

The company has completed its seismic survey in Bohol Sea, between Cebu and Bohol islands, and will conduct a more thorough examination to determine potential pockets that could contain commercial quantities of oil.

“They will look for oil pocket formations in the sea bottom and for shallow gas because this will effect their drilling later on,” Labios said.

The site survey will also determine the exact spot where the company will conduct exploratory drilling to determine the quality and quantity of oil in the area.

NorAsian is the second company to push its oil search in the seas around Cebu.

A local company of Japan Petroleum Exploration recently withdrew its efforts in western Cebu off Pinamungajan town after exploration drills indicated that oil in the area is not of commercial quantity.

NorAsian is searching for oil in four locations in the Philippines—off the seas of Calauit Island, Bohol Strait and off Cabilao Island also in Bohol and Marantao in Palawan.

The prospect in Argao has an estimated recoverable reserve of up to 270 million barrels of oil, while the one in Cabilao is estimated to contain as much as 145 million barrels.

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