DOE setting up 1-stop-shop for investments

MANILA, Philippines - The Department of Energy (DOE) said it is developing a one-stop-shop for investments into the energy sector.

This will fasttrack the permitting process for power and oil projects despite going through numerous agencies that need to approve the projects, a DOE official said.

“For the one-stop shop, what we are doing is more on networking among agencies where energy projects pass through,” said Lisa Go, DOE’s chief investment specialist.

Go said this aims to facilitate projects, particularly those facing permitting problems in non-DOE agencies.

The DOE’s Investment Promotion Office has already come up with “The Energy Investor’s Guidebook” for private firms interested in the energy sector, be it power or oil and petroleum.

The next step towards greater cooperation among government agencies is the formalization of the joint permitting process.

To date, private firms are mandated to get permits like the environmental compliance certificate from the Department of Environment and Natural Resources, an approval from the host communities, a business name from the Department of Trade and Industry and a corporate registration from the Securities and Exchange Commission.

DOE data showed that companies need to secure around 200 permits prior to starting exploration projects. The permitting process alone takes about a year to clear, which the DOE targets to cut by half to six months.

“The DOE is cleaning up the process. There is already the pro forma for the service contracts, not the case-to-case per project,” Go said.

Other efforts of the government include local and international roadshows and efficiency in managing service contracts.

The Philippines is competing with its neighbors in securing capital for exploration purposes.

To date, there are 27 service contracts in the Philippines. However, only the Malampaya and Galoc oil fields are in regular production.

The Philippines produces only 6,000 barrels of oil per day, way below the demand of around 300,000 barrels per day, data from the DOE showed.

The DOE is pursuing energy independence and sustainability through the development of indigenous energy resources like coal, petroleum and natural gas.