MANILA, Philippines - The Department of Energy’s recently concluded international roadshows in Australia and Turkey provided the agency’s delegation to hold exploratory talks with ExxonMobil Corp. and the Turkish Petroleum International Co. (TPIC) for possible stakes in energy resource development in the Philippines, the head of the delegation said yesterday.
The DOE held the Philippine Energy Contracting Round 5 roadshows in Australia and Turkey on Sept. 9 to 10 and 14 to 17, respectively.
In a statement, the DOE said the PECR 5 delegation headed by OIC-Undersecretary Zenaida Monsada said the team joined more than 200 exhibitors in the conference and exhibitions hosted by the Resource Information Unit (RIU) Good Oil Conference in Perth, Australia and the Association of American Petroleum Geologists (AAPG) International Conference and Exhibition in Istanbul, Turkey.
“This is an opportunity for the country to present to the international community its potentials in energy development and exploration… hopefully through exhibitions we can find prospective developers that can be our partner in achieving energy security in the nation and essentially convert interests to bids.” said Monsada.
The RIU Good Oil Conference brought interests among companies through the country’s fiscal policies that create traction and interest among international investors, she said.
Similarly, the AAPG International Conference and Exhibition also became an opportunity.
She said during the roadshow in Turkey, the DOE team met with representatives from ExxonMobil and TPIC for possible exploration in energy resource development in the Philippines.
During the exhibitions, the delegation, promoted this licensure round’s 11 petroleum blocks and areas for offer with the largest located east of Palawan and covers 576,000 hectares.
The data package of the PECR 5 is now powered by EZ Data and can be accessed in the contracting round’s official website.The PECR 5 is a transparent and competitive system for awarding energy contracts.
The goal is to showcase the petroleum exploration opportunities in the country and attract energy investors to develop the country’s indigenous oil and gas resources.
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.