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Manila Bulletin devider Business devider The Stock Market devider PXP Energy gets green light to continue Galoc operations

PXP Energy gets green light to continue Galoc operations

Published Jan 6, 2026 10:30 am
Manuel V. Pangilinan-led upstream oil and gas firm PXP Energy Corp. announced that it will continue its petroleum operations in northwest Palawan.
In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, Jan. 6, PXP Energy said its subsidiary, Forum Energy Philippines Corp. (FEPCO), received Petroleum Service Contract (SC) 88 from the Department of Energy (DOE), ensuring the continuity of operations at Galoc field.
SC 88 covers the area formerly known as SC 14C-1 Galoc field, which expired on Dec. 17, 2025. The new contract allows the existing consortium to continue petroleum operations and focus on optimizing the recovery of remaining reserves within northwest Palawan Basin. Executed by the consortium on Dec. 18, 2025, the contract covers an offshore area spanning about 83,450 hectares (ha).
The SC 88 consortium is composed of NPG Pty. Ltd., The Philodrill Corp., and FEPCO.
The DOE transmitted the original executed copy of the contract to the operator on Monday, Jan. 5, marking the formal effectivity of the agreement for implementation and safekeeping.
“The company notes that Galoc is a mature and depleting field, as previously disclosed,” PXP Energy said. “However, the execution of SC 88 provides a framework to extend operations and maximize value from remaining resources, subject to technical and commercial considerations.”
SCs are legal agreements between the government and the private sector that grant companies the exclusive right to explore and develop energy resources in specific offshore or onshore areas, provided they assume all financial risks and commit to a rigorous technical work program approved by the DOE and the President.
Last year, PXP received government approval to pursue exploration activities in Sulu Sea and northwest Palawan. This followed the DOE’s approval of the company’s SCs 80 and 81—administered by the DOE and the Ministry of Environment, Natural Resources, and Energy of Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)—as well as SC 86, which will expand its upstream oil activities.
Separately, PXP’s joint venture (JV) partner Philodrill has expressed plans to evaluate West Linapacan B, an undeveloped area believed to hold hydrocarbon accumulations that may extend beyond its structural boundaries. (Gabriell Christel Galang)
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