By Myrna M. Velasco
Published: May 8, 2013
State-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) has beefed up its coal exploration portfolio with the awarding of three more coal operating contracts (COCs) by the Department of Energy.
The three coal blocks are all located in Mindanao, which is also the main area of exploration activities for such resource by the company.
The government-run firm said its awarded COC 184 will cover Area 19B in Trento, Agusan del Sur and Lingig, Surigao del Sur.
“The COC covers an area of 3,000 hectares spread over three coal blocks,” the company has emphasized in its disclosure to the Philippine Stock Exchange.
For COC 185, the coverage will be for Area 29 stretching over 2,000 hectares in the municipalities of Buug and Malangas in Zamboanga Sibugay province.
“The COC includes two coal blocks which are situated in the northeastern part of the Malangas coal district, where PNOC-EC’s underground coal mines are currently operating in the development and production phase,” the company stressed.
The other awarded site is under COC 186 for Area 30 with five coal blocks spread around 5,000 hectares.
The company said “these coal blocks are located in the municipalities of Imelda and Malangas,” which are also in the province of Zamboanga Sibugay.
The state-owned energy firm was among the parties which joined the bidding for the offered coal sites under Philippine Energy Contracting Round-4 (PECR-4); and has fortunately cornered some blocks it eyed in the auction.
One of the aggressive investment expansions of PNOC-EC, as earlier sounded off by company officials, will be on coal exploration.
Beyond the upstream segment of the business, PNOC-EC has also been preparing to diversify into power plant development, mainly mine-mouth coal generation facilities.
The company is still searching for a joint venture partner that will help it on its take-off plan on such venture which shall start with 100 megawatts. source
The three coal blocks are all located in Mindanao, which is also the main area of exploration activities for such resource by the company.
The government-run firm said its awarded COC 184 will cover Area 19B in Trento, Agusan del Sur and Lingig, Surigao del Sur.
“The COC covers an area of 3,000 hectares spread over three coal blocks,” the company has emphasized in its disclosure to the Philippine Stock Exchange.
For COC 185, the coverage will be for Area 29 stretching over 2,000 hectares in the municipalities of Buug and Malangas in Zamboanga Sibugay province.
“The COC includes two coal blocks which are situated in the northeastern part of the Malangas coal district, where PNOC-EC’s underground coal mines are currently operating in the development and production phase,” the company stressed.
The other awarded site is under COC 186 for Area 30 with five coal blocks spread around 5,000 hectares.
The company said “these coal blocks are located in the municipalities of Imelda and Malangas,” which are also in the province of Zamboanga Sibugay.
The state-owned energy firm was among the parties which joined the bidding for the offered coal sites under Philippine Energy Contracting Round-4 (PECR-4); and has fortunately cornered some blocks it eyed in the auction.
One of the aggressive investment expansions of PNOC-EC, as earlier sounded off by company officials, will be on coal exploration.
Beyond the upstream segment of the business, PNOC-EC has also been preparing to diversify into power plant development, mainly mine-mouth coal generation facilities.
The company is still searching for a joint venture partner that will help it on its take-off plan on such venture which shall start with 100 megawatts. source
No comments:
Post a Comment