DOE peddles Phl energy prospects

ISTANBUL, Turkey – The Department of Energy (DOE) presented prospects for the petroleum exploration in the Philippines at the formal opening Sunday night of this year’s International Conference Exhibition organized by the American Association of Petroleum Geologists held in this city’s Congress Center.

The move is part of efforts to improve the country’s energy security on the back of tight power supply in the Philippines, Energy Undersecretary Zenaida Monsada told The STAR on the sidelines of the exhibition’s opening reception.

“This is part of the government’s efforts to develop long-term energy supply and enhance energy security,” said Monsada, head of the Philippine delegation.

May Militante, DOE public information officer, echoed the same point.

“We are always looking for additional capacity,” she said.

At the reception opening, the DOE’s booth attracted several visitors as members of the delegation highlighted the country’s areas offered for petroleum exploration.

Representatives from big-ticket companies and global petroleum giants such as Turkish Petroleum, Chevron, Saudi Aramco, Shell, Petronas and ExxonMobile have made inquiries on the so-called Philippine Energy Contracting Round 5 (PECR 5).

Visitors flocked to the booth during the formal opening on Sunday night, making inquiries on the country’s petroleum potential. Militante said more investors are expected to inquire on the PECR 5 as the exhibit will run until Sept. 17.

The DOE team provided panels that showed complete seismic data and fiscal terms on the areas offered.

The Philippine delegation also arranged a series of one-on-one meetings with potential investors, representatives from Turkey’s Ministry of Energy, and third-party service providers throughout the duration of the exhibition.

The PECR, a regular activity of the DOE, is a transparent and competitive system for awarding system 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.

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 until Feb. 27, 2015.

The DOE booth at the exhibition focuses on the PECR 5 blocks to be offered and data packages, available online which prospective PECR participants may avail of to evaluate the blocks offered.