The House of Representatives has created a trust fund to be used for additional scientific research in Philippine Rise (Benham Rise).
The House adopted House Resolution 1636, urging the Executive department "to allocate funds for additional scientific research and feasibility studies in the area east of Luzon, known as the Philippine Rise, including marine exploration for mineral deposits and other resources therein which may be used as alternative sources of energy."
The resolution cited the need for a trust fund, with a seed amount of P100 million for additional scientific research, feasibility studies, marine exploration and acquisition of new equipment to improve the government's research capabilities.
The fund will be managed by the National Coast Watch Council (NCWC).
The resolution, authored by Representative Deogracias Victor Savellano, stated that scientific surveys and marine explorations "showed that the Philippine Rise is rich in marine resources and massive mineral and gas deposits which can help the country achieve energy sufficiency."
Formerly known as Benham Rise, President Rodrigo Duterte, through Executive Order No. 25 series of 2017, ordered it to be called Philippine Rise instead.
It is a 13 million-hectare undersea region that lies approximately 160 nautical miles east of Luzon and off the provinces of Isabela and Aurora.