PNOC to re-enter geothermal sector with exploration contract in the Philippines
Alexander Richter
1 Mar 2010
State-owned Philippine National Oil Co. (PNOC) has re-entered the geothermal sector after obtaining a geothermal exploration contract from the Department of Energy.
Reported from the Philippines, “State-owned Philippine National Oil Co. (PNOC) has re-entered the geothermal sector after obtaining a geothermal exploration contract from the Department of Energy last Friday to develop the Mount Isarog volcanic chain in Camarines Sur. In a statement, PNOC said the $60-million project is estimated to generate 20 megawatts and churn out 18 gigawatt-hours of electricity a year. “The project will be connected to the Luzon grid and power generated will be sold to the local electric cooperatives and industries,” PNOC said in a statement.
The geothermal potential of Mt. Isarog is similar to that of the Tiwi geothermal field, it said.”
Source: Business World Online
