A total of 21 requests from 11 companies were submitted to the Department of Energy (21) for the issuance of Area Clearances, as the companies look to participate in the Philippine Conventional Energy Contracting Program.
Areas in the Sulu Sea, Recto Bank, Palawan, Quezon, Albay, and Mindoro were being eyed by the firms. As of June 25, seven proposals have been approved by the DOE.
Through Area Clearances, interested participants are notified when there is no conflict in the area/s they are proposing to explore, such as restricted areas or other scheduled energy projects.
Four of the approved firms have submitted their Letters of Intent for publication of their nominated areas.
Three companies have already published their nominated areas in the Sulu Sea, Northeast Palawan, and Ragay Gulf. The areas are open for potential investors to contest.
The scheduled deadline of the challenge period for Sulu Sea, Northwest Palawan, and Ragay Gulf are the following: August 15 at 11 a.m.; August 18 at 11 a.m.; and August 20 at 11 a.m. respectively.
“We need to increase exploration and development activities in the Philippines so that our country can become energy self-sufficient. The DOE is continuously pushing for the success of the PCECP for the effective, responsible and reasonable development of all our indigenous energy resources,” Energy Secretary Alfonso G. Cusi was quoted in a BusinessMirror report.
PCECP allows investors to participate in upstream exploration or development by choosing an area from the 14 pre-determined areas (PDA) offered by the DOE; the application period for the PDAs will end at 11 a.m. on August 19. Investors can also propose their own areas for exploration by requesting for an Area Clearance.
