News

Philippines: bidding out contracts for drilling

Alexander Richter 29 Dec 2008

The (Philippines') Energy Department will bid out 12 contracts for oil and gas, geothermal and coal exploration and development in 2009.

The (Philippines’) Energy Department will bid out 12 contracts for oil and gas, geothermal and coal exploration and development in 2009.

“Another energy contracting round is expected to be launched next year, conservatively looking forward to possible awarding of four service/operating contracts each per sector,” the department said in a statement.

The department last held an auction, or energy contracting round, in December 2006 when it awarded nine contract areas in east Palawan, Mindoro-Cuyo, Cagayan, Central Luzon, Visayas and Agusan-Davao for petroleum exploration.

It also awarded three contracts for geothermal exploration and development in Batangas, Biliran and Compostela Valley and offered 14 areas for exploration, development and production of the country’s coal resources.

The Energy Department this year awarded five new petroleum service, four geothermal and another four coal operating contracts.

Source: Manila Standard Today