MANILA, Philippines - The Department of Energy (DOE) has moved the timetable for coal exploration under the Philippine Energy Contracting Round 5 (PECR 5), its latest round of exploration contracts opened to prospective investors.
Energy Undersecretary and committee chairman Zenaida Monsada said there is a need to move the last day of acceptance of PECR applications as well as the opening of winners due to changes in schedule.
“There is a need to revise the PECR timeline for coal due to the adjustment in the PECR launching schedule on May 9, 2014 and the overlapping schedule of the REC (Review and Evaluation Committee) and the REC Secretariat with the Petroleum International Road Show in Turkey scheduled on Sept. 14 to 17, 2014,” she said.
Thus, the committee moved the last day of acceptance of PECR applications as well as the opening of winners to Sept. 26 instead of the original timetable of Sept. 19.
Endorsement of winning applicants is still scheduled on Nov. 21, Monsada said.
The DOE launched last May an offer for 26 new areas for petroleum and coal exploration, which if found viable could reduce the country’s dependence on imported fuel.
A regular activity conducted by the department, the PECR is a transparent and competitive system for awarding service contracts.
The goal is to showcase the petroleum exploration opportunities in the country and to attract energy investors to develop the country’s indigenous oil and gas resources.
The PECR 5 offers 11 areas for petroleum exploration, mostly located in Luzon, and 15 areas for coal exploration, largely concentrated in Mindanao.
Areas offered for petroleum exploration are in Southeast Luzon, Masbate-Iloilo, Northeast Palawan, Southeast Palawan, West Palawan, West Luzon while areas offered for coal exploration are in Surigao, Agusan-Davao, Zamboanga and Cotabato-Sarangani.
For petroleum service contracts, interested investors may submit their applications from June 2, 2014 to Feb.27, 2015, DOE officials earlier said.
After PECR 5, the DOE is likely to launch the next round of exploration contracts in 2016.