March 06, 2013

Big oil and Gas Field Target by San Miguel

San Miguel Corporation is now looking for a big opportunity abroad by planning to invest in gas and oil fields.

San Miguel president Ramon S.Ang said on Wednesday that if they will be able to invest to one of those projects, big money is on its way for the corporation.

25$ billion is an estimated budget that the corporation needs to be raised to be able to buy a gas field according to Ang.

He also declined the suggestions to look for gas fields in waters near the Philippines because of the reasont that those kinds of projects in the country would be too small.

“If we buy anything, it has to be a proven gas field,” he said.

“We have a full force of people pursuing these deals. They are doing that every day with foreign consultants. We are looking day and night,” he added.

“If we are able to invest in an oil field, the growth of this company would be unimaginable,” Ang said.