The economy hopes to achieve a production level of 8.59 million barrels of oil, 294 billion cubic feet (8.49 billion cubic metres) of gas and 87.58 million barrels of condensate by the end of 2030.Assuming these targets are realized, hydrocarbon
resources level will reach 45% by 2035 from the 2010 production level of 30%. The economy has 16 sedimentary basins, the majority of which are in Luzon, particularly in Palawan.