Gov’t set to award new petroleum, hydrogen service contracts
By Alena Mae S. Flores – August 22, 2024, 8:50 pm
from manilastandard.net
The Department of Energy (DOE) said it expects strong investor interest in the bidding for petroleum and hydrogen service contracts in Palawan, Visayas, Luzon and the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) on Aug. 27, 2024 at the Dusit Thani Manila in Makati City.
“The DOE and our BARMM counterparts are optimistic that the momentum built through our recent promotional efforts and roadshows will result in a strong turnout of applications for our PDAs and the successful awarding of petroleum service contracts,” DOE Undersecretary Alessandro Sales said in a statement.
“We continue to welcome partners who are committed to driving wealth creation in line with the energy transition and sustainable development,” Sales said.
The BARMM and Philippine bid rounds will feature three pre-determined areas (PDAs) for petroleum exploration in the BARMM, two PDAs for petroleum development and production and two PDAs for native hydrogen exploration—marking the world’s first offering for native hydrogen exploration.
The DOE and the Ministry of Environment, Natural Resources and Energy (MENRE) launched the first conventional energy bid round for BARMM and the 2024 Philippine energy bid round on Feb. 26, 2024 which offered four PDAs for investment, exploration, development and production of the BARMM’s indigenous resources; two PDAs for the development and production of petroleum in Northern Palawan and Southern Cebu basins; and two PDAs for native hydrogen exploration in Central Luzon under the 2024 Philippine Bid Round.
