By Myrna M. Velasco
SINGAPORE – Four foreign companies have sent letters of intent (LOI) to the Department of Energy (DOE) for the scheduled auction of consulting services on the data management package of the country’s upstream petroleum service areas.
These are British firm Zebra Data Sciences Ltd., French company CGG, American firm IHS Markit and Malaysian firm Iraya Energies Sdn Bhd.
According to Energy Assistant Secretary Caron Aicitel E. Lascano, the competitive bidding on the country’s petroleum data management services will be held this September.
The timeframe targeted by the department on the submission of bids is September 10; while post-evaluation process by its Centralized Review and Evaluation Committee (C-REC) starts September 15.
The consulting services will delve with data management primarily on the 14 pre-determined areas (PDAs) that the Philippine government will be offering to investors via its Philippine Conventional Energy Contracting Program (PCEP). The formal launch of the modified contracting on harnessing the country’s hydrocarbons potential will be latter part of October this year.
Lascano noted that with viable and efficiently managed data that they can offer to investors, the department is hoping that they can ramp up investment interests – primarily from the deep-pocketed foreign firms that have been showing interest in the petroleum blocks.
Energy Undersecretary Donato D. Marcos further indicated that “we need proper management and packaging of the petroleum data that we have so they become more attractive to investors.”
In the preliminary bid submission notice posted at the DOE website, the department specified that it is “soliciting proposals for a prospective data management service provider to handle data viewing and data package sales of the pre-determined areas of the PCECP.”
The pre-determined blocks comprise of 14 service areas along six basins in various parts of the country. Altogether, they straddle 73,576.66 square kilometers of both shallow and deep-water drilling prospects in East Palawan, Cagayan, West Luzon, Sulu Sea, Cotabato and Agusan-Davao basins.
The country’s restructured petroleum contracting round will be carried out on two modes – one shall be submission for the pre-determined areas; while the other is year-round submission of unsolicited proposals based on the preference of investors.
At all four sub-phases of exploration and drilling activities in investors’ work programs at the pre-determined blocks, the Philippine government is expecting to fetch up to US$2.4 billion worth of investments.
The PCECP is a contracting regime that essentially replaced the Philippine Energy Contracting Round (PECR) – which so far lasted for a decade with at least five batches of petroleum blocks’ bidding.