Picture used for illustrative purposes only.

A powerful earthquake measuring 7.3 on the Richter scale struck Davao Oriental province in the southern Philippines on Thursday, the US Geological Survey (USGS) said.

The quake was also felt in South Cotabato province on Mindanao island as initial warnings about the risk of tsunamis were lifted and with no immediate reports of casualties or major damage.

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The quake was at a depth of 65.6km (40.76 miles), the USGS said, with its epicentre in the Philippine Sea southeast of Davao City.

The Philippine Institute of Volcanology and Seismology said the quake, which struck at 1.46 a.m. local time, hit at a depth of 69 km, about 67 km southeast of Governor Generoso town, reports Xinhua news agency.

The Philippine national disaster agency had so far received no reports of casualties, injuries or major damage, administrator Ricardo Jalad said. "Looks like nothing scary happened, like a collapse of a building," Jalad told reporters.

Meanwhile, the jolts of the massive temblor were also strongly felt as far away as Talaud district of North Sulawesi province in Indonesia, triggering panic among residents.

Airports, sea ports and key infrastructure were for the most part unaffected by the quake, while all personnel were accounted for, the transport ministry said.