Published July 12, 2017, 10:01 PM By Myrna M.
Velasco
The Department of Energy (DoE) is
targeting to offer by year-end new petroleum blocks for contracting round to
lift the country’s chances for new oil and gas discoveries.
This was announced by DOE’s Energy
Resource Development Bureau (ERDB) Assistant Director Ismael U. Ocampo in a
press conference relative to the launch of the “E-Power Mo” information drive
of the department.
The goal, he said, “is still
anchored on finding the next Malampaya” so the country could boost its
development prospects of indigenous energy resources.
Ocampo emphasized that the areas
targeted for fresh round of auction under the Philippine Energy Contracting
Round 6 (PECR-6) would include those in the West Philippine Sea, Sulu Sea and
Palawan.
The energy official indicated that
the previous areas without offers under the last contracting round may also be
included in the blocks for bidding under PECR 6.
These classified service areas have
been in the Central Luzon basin; Northwest Palawan; East Palawan basin and Sulu
Sea.
Ocampo stressed that the department
– and the country in general – would somehow “be taking a gamble” in this
scheduled round of contracting, albeit the agency has been trying to lean on
probabilities that crude prices may rise higher in the coming months.
Energy officials admitted though
that there are other hurdles that they would need to hammer out with other
government agencies so they can push ahead with the PECR-6 undertaking.
These would include the lifting of
moratorium that was enforced by the Department of Foreign Affairs(DFA) on
petroleum drilling plans at the West Philippine Sea, primarily those that were
previously held to be within the so-called ‘conflict area’; and the pending
approval of the Department of Finance (DoF) of the contracts still due for
award under PECR-5.
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