Palawan petroleum service contract forwarded to Palace for awarding
THE DEPARTMENT of Energy (DoE) has endorsed a petroleum exploration service contract to the Office of the President for awarding, involving a potential resource in Northeast Palawan.
In an interview, Demujin F. Antiporda, director of the DoE’s Energy Resource Development Bureau, told BusinessWorld that the DoE has forwarded four service contracts in total to the Palace — two petroleum service contracts and two hydrogen contracts.
To reduce dependence on imported energy and increase the utilization of indigenous resources, the Philippines is pinning its hopes on tapping hydrogen as an alternative fuel.
The hydrogen contracts cover 212,105 hectares in Western Luzon and 494,041 hectares in onshore blocks in Leyte.
Two more contracts are currently with the DoE for evaluation.
In October, the DoE invited interested parties to submit competing proposal to explore potential native hydrogen resources on 436,000 hectares in southern Zambales.
Applicants may submit counter offers until 11 am on Dec. 9.
“So far, no one has challenged H-NA-3 yet,” Mr. Antiporda said, referring to the nominated area.
The government recently awarded eight new petroleum service contracts, representing potential investment of around $207 million over seven years of exploration.
The potential petroleum and hydrogen resources for exploration are in the Sulu Sea, Cagayan, Cebu, Northwestern Palawan, Eastern Palawan, and Central Luzon.
Companies with service contracts can start their work programs, which include geological and geophysical studies, seismic surveys, and drilling activities, as appropriate, to assess the potential of the resource. — Sheldeen Joy Talavera
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