The newly collected data from the completed seismic surveys of Israeli firm Ratio Petroleum and state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) will enable a comprehensive assessment of the actual reserves’ potential for oil and gas at their service contracts in the...
Pangilinan-led PXP Energy Corporation has formally secured the approval of the Department of Energy (DOE) for the relinquishment of its interest in a petroleum block in the Northwest Palawan basin that was previously awarded under Service Contract (SC) 74. “The DOE has approved the surrender of...
BY MYRNA VELASCO The ongoing geothermal exploration and development activities of the Sy-led Philippine Geothermal Production Company, Inc. (PGPC) will beef up the country’s baseload power capacity by up to 400 megawatts (MW), once the steam output would already be fed into offtaker-generating...
Ayala-led ACEN Corporation has inked a contract with subsidiary ENEX Energy Corporation (ENEX) for the agreed shares subscription covering 177,544,011 non-voting preferred shares of the latter to be issued at a par value of P1.00 per share. According to ACEN, the shares will be issued from ENEX’s...
Gas field operator Prime Energy Resources Development B.V. (Prime Energy) has announced the award of a contract to US firm subsidiary One Subsea of the Schlumberger group, for the supply of equipment for phase 4 drilling in the extended Malampaya project. The supply of equipment, according to the...
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...
The Department of Energy (DOE) will be undertaking this year the first bid round to woo prospective investors for energy infrastructure developments in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). The department announced that the launch of the planned auction for conventional...
With the increasing dependency on imports of energy resources, the country should enhance its policies on indigenous sources to ensure energy sources are sufficient for short to long-term use, the government’s think-tank researchers said. In a policy note titled “Evaluating energy security in...
TOKYO, Japan —The Philippines remains in a "deadlock" in resolving the energy exploration issues in the West Philippine Sea (WPS), President Marcos said. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of Malacañang) Marcos emphasized the need to resolve the increasing tensions in the...
The firms comprising the Malampaya consortium are already preparing for fresh round of ‘capital expenditures call’ to bankroll their committed drilling of 2-3 wells as one of the major conditions in their 15-year contract extension, according to Energy Secretary Raphael P.M. Lotilla. “The...
Pangilinan-led PXP Energy Corporation is still focused on intensifying its plea to the government for the targeted lifting of the ‘force majeure’ roadblock that had been enforced on its planned exploration and drilling activities at its petroleum blocks along Palawan basin. The company has been...
Investors from the Middle East – primarily energy companies from Qatar, United Arab Emirates (UAE) and Saudi Arabia – are enthusiastically eyeing to funnel investments into offshore oil and gas exploration ventures in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), according to...
