Monday, September 24, 2018

Philippine Roadshow for 14 Petroleum Blocks

Posted on Wednesday, 12 September 2018 

Department of Energy Assistant Secretary Caron Aicitel E. Lascano (6th from left) leads a delegation to promote the 14 petroleum blocks that the Philippine Government has scheduled this year for bidding to investors. Ambassador Joseph Yap (center) and Commercial Counsellor Cynthia Ricafort (3rd from left) were briefed about the bidding details.

Singapore, 29 August 2018 –– A delegation of the Department of Energy (DOE) was in Singapore to participate in the Southeast Asia Petroleum Exploration Society (SEAPEX) Conference and to promote the bidding out of 14 petroleum blocks in various locations in the Philippines.

The delegation met with Ambassador Joseph M. Yap and Commercial Counsellor Cynthia B. Ricafort and reported that a number of energy companies are meeting the delegation. The interest for energy projects in the Philippines is high.

The awarding of petroleum service contracts will follow the recently-enacted Philippine Conventional Energy Contracting Program (PCECP), which will grant a license either by nomination (where an applicant may nominate or publish its area of interest) or by competitive selection process (where the Department of Energy publishes a set of Pre-Determined Areas or PDAs for bidding).

Head of Delegation Assistant Secretary Caron Aicitel E. Lascano said that the recently-enacted law Republic Act 11032 (Ease of Doing Business Act) and Presidential Executive Order No. 30 (Creating the Energy Investment Coordinating Council) have streamlined the regulatory procedures affecting Energy Projects of National Significance (EPNS), including oil and renewable energy.

The delegation stated that data from seismic testing and drilling have yielded promising indications of hydrocarbon (oil and natural gas) deposits in the cited areas.

Department of Energy Undersecretary Felix William B. Fuentebella disclosed in a media statement that the 14 petroleum blocks comprise the pre-determined areas (PDAs) selected to be auctioned to investors this year.

The 14 service areas are in six petroleum basins: four are in West Luzon; three in Sulu Sea; three in East Palawan; two in Cotabato; one in Cagayan; and one in Agusan-Cotabato. Eight prospects are in shallow waters and six are deep-water exploration ventures.