Business World Online
Posted on May 09, 2014 08:37:37 PM
The government on Friday launched the fifth leg of the Philippine Energy Contracting Round (PECR), which officials expect to wrap up next year.
A total of 26 resource areas were offered to investors, with Sept. 19, 2014 and Feb. 27, 2017 bid submission deadlines, respectively, for 15 coal and 11 petroleum contracts.
“Between this time until the deadline of bid submissions, the interested parties will do their own studies ... so that they can choose where to bid,” Energy Secretary Carlos Jericho L. Petilla told reporters.
“By nature, its easier to study and assess coal areas than petroleum, that’s why the deadline for coal is earlier than that for petroleum.”
Bid evaluations will take two around months, Energy Undersecretary Ramon Allan V. Oca said.
“Our target is to award the coal contracts on November 21 and petroleum on May 4 so that we can conclude the PECR 5 by of the first half of 2015,” he added.
All of the 15 coal areas offered are in Mindanao, while nine petroleum areas are in Luzon and the remaining two in the Visayas.
Awarded deals will add to the existing 29 petroleum service contracts 67 coal operating contracts.
Under the PECR 4 that took place in 2012, the Energy department offered 38 coal and 15 petroleum blocks. The auction generated 69 bids for 28 coal contracts and 20 offers for 11 petroleum areas, but only 11 bids for coal and three for petroleum were accepted. source
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