Manila Times.net
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PNOC-Exploration Corp. is keen on ramping up its coal projects.
Gemiliano Lopez, PNOC-EC chairman and chief executive officer, said the company will participate in the upcoming state bidding for coal exploration and development contracts.
“Pag nagkaroon ng official announcement. But definetely interesado kami,” he said.
Coal is considered one of the cheapest fuel for electricity production and takes up roughly over a quarter of the country’s power generation mix.
The Department of Energy aims to bid out coal operating contracts by December this year in line with efforts to boost the development of the country’s indigenous energy sources.
Among the areas for possible coal concessions are Cebu, Surigao del Sur, and Zamboanga del Norte.
Lopez said the company is well positioned to develop coal resources with its stable of technical experts.
The company also would put up three coal mines in Zamboanga Sibugay at a cost of over P2 billion.
Aside from these mines, PNOC-EC has coal operating contracts in Isabela and Surigao del Sur.
PNOC-EC targets to become a major producer of the commodity in the country. At present, the local coal industry is dominated by the Consunjis who operate mines in Semirara Island, Antique.
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