President Marcos said the signing of eight landmark petroleum service contracts (PSCs) worth over $200 million would reduce the Philippines’ near-total dependence on imported fuel and secure its long-term energy future.

Speaking at the signing ceremony in Malacañan, the President said the government is “doing everything” to secure the country’s energy future and ensure that ordinary Filipinos no longer bear the brunt of rising global oil prices.

“Ginagawa po namin ang lahat upang matigil ito (We are doing everything to stop this),” he said.

Marcos admitted that the Philippines remains “heavily dependent” on imported petroleum, with nearly 99.7 percent of its fuel supply sourced abroad.

“That is why today’s presentation of eight service contracts is a deliberate step towards securing our energy future,” he added.

According to Marcos, the contracts, worth about $207 million over a seven-year exploration period, represent the government’s “continued efforts to attain greater energy security, economic stability, and self-reliance.”

The eight PSCs cover exploration areas across the Sulu Sea, Cagayan, Cebu, Northwest Palawan, East Palawan, and Central Luzon, marking the largest batch of petroleum service contracts awarded in a single period in Philippine history.

These projects are also the first to include native hydrogen exploration, as well as co-managed petroleum blocks with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), a milestone for regional inclusion and energy diversification.

Collectively, the contracts are expected to unlock investment commitments of over $200 million, with contractors set to conduct seismic and geological studies to identify potential petroleum and hydrogen reservoirs.

Energy Secretary Sharon Garin said the contracts symbolize the Philippines’ readiness to “embrace innovation and sustainability while reducing import dependence.”

In his speech, President Marcos highlighted the country’s first venture into hydrogen as a clean source of energy, noting its potential to “power homes, create jobs, and open new opportunities for innovation.”

“In Central Luzon, we are charting new ground. We are venturing into the exploration of hydrogen—a clean, zero-carbon source of energy that holds immense promise for our country and for the world,” he said.

“Even more remarkable, these are the very first service contracts for the exploration of native hydrogen gas in our history. This signals our readiness to lead in sustainable innovation,” he added.

The President added that these projects would help the country “stand on its own—secure in its energy, strong in its economy, and steady in its commitment to future generations.”

Marcos assured investors that the government is cutting bureaucratic delays and red tape through the Energy Virtual One Stop Shop (EVOSS) platform and new Department of Energy (DOE) circulars that grant special allowances to petroleum contractors.

“This will encourage exploration in new petroleum, promote gas development in remote areas, and allow fair cost recovery,” he said.

He also urged investors to conduct business with integrity, “with respect for the environment, and fairness toward the communities that host their operations.”

“Let us prove that responsible enterprise and national development can go hand-in-hand—that growth built on transparency and responsibility is growth that will last,” he added.

Each project will include scholarship programs, community development initiatives, and local employment opportunities, even during the exploration phase.

Once production begins, host communities are expected to benefit further from infrastructure upgrades and social services funded by the contractors.

Organized by the DOE under the Philippine Conventional Energy Contracting Program (PCECP), the event formalized eight PSCs that had undergone transparent and competitive evaluation.

Launched in 2018, the PCECP promotes exploration in potential resource-rich areas nationwide. The 2025 batch includes projects that will help replace the declining output of the Malampaya gas field and attract new investment in the Philippine upstream energy sector.