The Department of Energy (DOE) and Ministry of Environment, Natural Resources and Energy (MENRE) of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) are advancing on their ‘courting stage’ for capital flow on energy projects that shall be installed in the region.

On top of that, the DOE is similarly opening government doors for propounded two hydrogen ventures in Central Luzon; as well as oil and gas exploration and production (E&P) investments for blocks straddling Northwest Palawan and Southern Cebu basins.

The enticement of investors will be concretized via the 1st Conventional Energy Bid Round for targeted investments in the BARMM jurisdiction; while investment-invitation for hydrogen as well as the E&P ventures in Palawan and Cebu will be via the 2024 Philippine Energy Bid Round – that will be simultaneously launched this February 26.

Energy Secretary Raphael P.M. Lotilla noted that by “leveraging on these opportunities, we invite local and foreign investors to be our partners in achieving energy security and self-sufficiency in the region and the entire Philippines.”

On offer in the BARMM territory will be four (4) pre-determined areas (PDAs) for planned upstream oil and gas investments – and that had been anchored on the assessment and recommendation of the Intergovernmental Energy Board (IEB).

Lotilla emphasized the bid round is the first critical step that the Marcos administration will be pursuing when it comes to stimulating investors’ interest for the region, which had been practically neglected for ages.

Apart from prospective oil and gas discoveries, the energy department also vouched on the potential of the BARMM areas for coal deposits that can be extracted on commercial scale.

“The resources identified in the BARMM area are enormous assets that we can fully develop,” the energy chief stressed; adding that when these would gain traction into commercial fruition, these will also lift economic prospects in the region.

“As we go another step forward to harnessing these assets, our aspirations for promoting economic growth, generating employment opportunities, and nurture a thriving business landscape in the region are even closer to realization,” Lotilla said.

The DOE highlighted that the auction round for energy investments within BARMM’s realm is leaning on the prescription of Section 10, Article XIII of Republic Act No. 11054 or the Organic Law for the Bangsamoro Autonomous Region – and specifically, that “jointly grant rights, privileges, and concessions for the exploration, development, and utilization of uranium and fossil fuels such as petroleum, natural gas, and coal within the territorial jurisdiction of the Bangsamoro.”

For the Philippine bid round, on the other,  this had been cast by the DOE as “a government-led process that invites oil and gas companies to participate in competitive bidding for the right to explore and develop specific acreage within the country.”

It qualified that through the process,  the government can “facilitate efficient oil and gas exploration, promote economic growth, and ensure responsible resource management within the nation.”