State-run PNOC Exploration Corporation (PNOC EC) has opened the bidding process for a farm-in opportunity in Service Contract (SC) 57, a 7,120-square-kilometer offshore block in Northwest Palawan located just 10 kilometers northeast of the Malampaya gas field.

The company is inviting qualified joint venture partners to acquire between 51% and 70% participating interest in SC 57, in line with Executive Order No. 80 (2019) and Department of Energy (DOE) Circular DC2020-02-0006. PNOC EC currently holds full ownership of the contract.

Interested parties are required to submit Letters of Intent between July 22 and August 5, with access to farm-in documents granted upon signing confidentiality agreements. A pre-selection conference was conducted on August 11 to orient potential bidders.

PNOC EC said it “reserves the right to accept or reject any proposals or annul the process without liability to participants.”

Proposals must be submitted to the Farm-out Selection Committee (FSC) by September 19, 2025, at 12PM, and should include three sets of technical and financial documents in sealed envelopes.  

What do you think this development means for the Philippines’ upstream oil and gas prospects? Share your insights in the comments or join the discussion.

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