Recent years has yvitnessed decline in national oil production at ari alarming rates ofhigher than 10% annually. On the other hand, national gas reserves and production situ-ation is much better even though problems such as unanticipated production shortfall ofexisting fields and commerciality of new reserves have still to be faced. Analysis on historyof production and reserves and comparison betyveen oil and gas discoveries in recent yearsmay lead into a conclusion natural gas may serve as an alternative source for energy andnational incorne in years ahead. Hoyvever, challenges such as technology, infra-struc-tures, law enforcement, social unrests, tight regulations, and incentives are still day-to-dayreality. These challenges need to be addressed appropriately if sustainable gas, and alsooil, productions are to be achieved.
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