President Ferdinand "Bongbong" Marcos Jr. lauded the joint award of Petroleum Service Contracts and Coal Operating Contracts in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), saying it will not only boost investments in the region but also ensure the country's energy security.
*President Ferdinand 'Bongbong' Marcos Jr. (KJ Rosales/PPA Pool)*

Marcos said this as he witnessed the ceremonial signing of the joint circular prescribing the guidelines on the joint award in Malacañang on Thursday, July 6. In his speech, the President noted that it was "crucial" to take action considering the depleting Malampaya reservoir and volatile fossil fuel prices. "It is crucial to take decisive action, reigniting petroleum exploration and fostering the development of indigenous energy resources," he said. "Ensuring security and self-sufficiency of our nation's energy supply is not an option; it is an imperative—a solemn duty to our people, our nation, and future generations," he added. Marcos said the country won't be as dependent on external sources thanks to the BARMM's energy potential. "By harnessing the enormous energy potential within BARMM, we will reduce our reliance on external sources, mitigate the detrimental impacts of price fluctuations, and build a solid foundation for our country's energy security," he said. "Let us, therefore, wholeheartedly embark on this journey with determination and goodwill. We must recognize that through our unity and our commitment—we wield the ability and the power to shape our nation’s destiny," he added. Meanwhile, President Marcos hailed the joint circular on the guidelines of the joint award, saying they were "clear and resolute". They also aim to facilitate the growth of the BARMM and attract vital investments to the area. "In fostering a level playing field, we create an environment that encourages local and foreign investors to actively participate in the exploration and development of the BARMM's energy resources," he said. "Through this, we promote economic growth, generate employment opportunities, and nurture a thriving business landscape in the region," he added. The Chief Executive likewise assured the public that the guidelines ensure that all exploration and development activities adhere to rigorous regulations and industry-leading best practices. "These guidelines demonstrate our resolute commitment to responsible stewardship, ecological sustainability, and the cultivation of a vibrant energy sector," Marcos said. "As we uphold these principles, we forge a path towards a future where resource utilization is in harmony with environmental preservation, economic advancement, and social equity for all," he added. President Marcos reiterated that the national government is committed to working with the BARMM in its journey for sustained progress. "The Bangsamoro Organic Law empowers both the National and the Bangsamoro Government to jointly grant rights, privileges, and concessions for the exploration, development, and utilization of uranium and fossil fuels within BARMM," he said. "This collaborative endeavor stands as an unwavering testament to our firm commitment to unity and unwavering cooperation with BARMM as we unlock the vast and untapped potential of the region," he added.