By MB Online
The Department of Energy (DOE) is currently monitoring “23 operating service contracts in terms of their respective work programs for oil and gas,” Jesus T. Tamang, director of DOE’s Energy Resource Development Bureau, said in a presentation in a lecture series hosted by the Philippine Council for Industry, Energy and Emerging Technology Research and Development (PCIEERD) and the Chamber of Mines of the Philippines (COMP) in Pasig City Friday.
These service contracts were awarded to the private sector under the Philippine Conventional Energy Contracting Program (PCECP) of the DOE.
The program was launched on November 22, 2018, to invite more investors in the petroleum sector.
The contracting program adopts a simpler, faster and more flexible contracting and licensing system that helps boost investor participation in the exploration and development of petroleum areas.
Tamang said that seven of the 23 service contracts were already operating, and they expect the 16 other contracts to also start producing after the exploration stage.
Tamang also highlighted his department’s efforts in encouraging the use of renewable energy in the energy mix of the country.
“To further boost renewable energy development in the country, the DOE crafted policies that could guide existing and potential investors.
These policies could serve as a tool in planning and forecasting as well as provide additional market,” Tamang said in his presentation.
Tamang cited the Net Metering, RE Portfolio Standards for on grid and off-grid, Priority Dispatch for RE, Renewable Energy Market (REM) and Green Energy Option as among the policies actively implemented.
As of 2018, we have a total of 4,814 megawatts installed renewable energy capacity.
A total of 880 projects were awarded which could generate a total of 23, 200 megawatts once these projects come online.
The quarterly mining lecture series is an undertaking of the Chamber of Mines of the Philippines.
It is intended to stir discussions on issues very important to industry and national development.
The theme for this quarter is “Exploring the alternative sources of energy and understanding the EPIRA law.” (DCL)