26 new areas for exploration to be offered to investors-A A +A
Tuesday, May 6, 2014
THE Philippine government will offer to investors 26 new areas for exploration in Luzon and Mindanao, the Department of Energy (DOE) said Tuesday.
These new areas will be part of the 5th Philippine Energy Contracting Round (PECR5) to be launched on May 9.
The PECR5 includes 11 new areas for petroleum exploration with large concentration in Luzon, and 15 new and nominated areas for coal exploration, mostly located in Mindanao.
Contrary to previous reports of areas offered in the Bangsamoro, "no areas will be offered at the proposed Cooperation Development Areas at the Bangsamoro," said Energy Undersecretary Ramon Allan Oca, who is also chairperson of the DOE Review and Evaluation Committee (REC).
During the launch, the DOE will unveil the PECR5 website and an exhibit of the different areas to be offered.
Around 400 participants, including national and local executives, officials from the DOE and attached agencies, concerned government agencies, and local and foreign investors, are expected at the event.
The DOE will also be conducting international roadshows to encourage more energy players abroad to join the contracting round: North America Prospect Expo South (NAPE South) on August 20-22 in Houston, Texas; South East Asia Petroleum Exploration Society (SEAPEX) event on June 10-14 in Singapore; and AAPG International Conference and Exhibition on September 14-17 in Istanbul, Turkey.
The DOE said it will also conduct a series of information, education, and communication (IEC) campaigns in the host communities and areas near the exploration areas starting this month.
The IEC for petroleum will be in Palawan, Mindoro, Iloilo, and Sulu, while the IEC for coal will be in Isabela, Albay, Cebu, Davao, and Zamboanga.
It may be recalled that on February 24, the DOE issued the PECR5 Circular (DC2014-02-0005), which reiterates the government’s promotion of the exploration, development, and production of the country’s indigenous petroleum and coal resources through a transparent and competitive system for awarding service and operating contracts with local and foreign investors. (SDR/Sunnex)