By Iris C. Gonzales (The Philippine Star) | Updated May 10, 2014 - 12:00am
MANILA, Philippines - The Department of Energy (DOE) is offering to investors 26 new areas for potential coal and petroleum exploration, which if found viable could reduce the country’s dependence on imported fuel.
In a ceremony yesterday, Energy Secretary Carlos Jericho Petilla launched the so-called 5th Philippine Energy Contracting Round or PECR 5 as he assured investors that the areas are within Philippine territory and that the projects would not suffer the same fate as those in the disputed Recto Bank in the West Philippine Sea.
“As we live within international laws, we seek all diplomatic recourse to assert our claims to the areas in the West Philippine Sea. Nevertheless, given the situation in the said area, we ensure that the country can affirm itself that the areas offered in the PECR5 are rightfully ours,” Petilla said in his opening message at the official launching ceremony held at the Intercontinental Hotel Manila, Makati City.
Asked what the government would do if China protests any of the PECR5 areas, the Energy chief said it would refer the issue to the United Nations.
He also said that originally, there were three potential areas for petroleum exploration under the Bangsamoro area, but the DOE decided to exclude these areas temporarily until the Bangsamoro government is duly formed.
“There were three areas actually that were under the Bangsamoro area and out of respect for the peace that we’re actually approaching right now, we’ve excluded it temporarily. But we promise to put it back in once concurrence with the Bangsamoro government is duly formed,” Petilla said.
A regular activity conducted by the Energy 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 PECR5 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.
Investors interested in petroleum service contracts may submit their applications from June 2, 2014 to February 27, 2015, while those eyeing coal areas could submit their offers from May 29, 2014 to Sept. 19, 2014.
“After the opening of applications, there will be a two-month evaluation period. Applications would be evaluated for compliance with the DOE requirements on legal, technical and financial capability. Applications are required to include the proposed work program and economic development of the proponent,” the DOE said.
The endorsement of winning applications for coal and petroleum is targeted on November 21, 2014 and May 4, 2015, respectively, the DOE also said.
In 2011, the Energy department launched its 4th PECR covering 15 blocks or an area of approximately 100,339 square kilometers (km). source
No comments:
Post a Comment