The Department of Energy (DOE) will evaluate offers for the first Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Conventional Energy Bid Round for Petroleum and the 2024 Philippine Bid Round next week.
DOE will open on August 27 applications for the energy bidding rounds.
Last February, the DOE and the Ministry of Environment, Natural Resources and Energy launched the said energy bid round for BARMM where it offered four PDAs for investment, exploration, development and production of the region’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 were also offered.
Alessandro Sales, DOE undersecretary, said the bidding rounds are considered as “a significant leap forward for the country’s upstream petroleum industry” as these will lead to the award of petroleum service contracts to qualified applicants which will partner in the development of the BARMM’s energy resources.
DOE said the move will also help develop and utilize stranded petroleum reserves in the Calauit field in Northwest Palawan and the Alegria field in Cebu.
The agency said taccepted application documents will undergo a completeness check to determine their eligibility for further legal, technical and financial evaluations.
Around 50 local and international oil and gas exploration and production companies have shown interest in participating in the biddings including players from Asia, North America and Europe as well as local players. These include Baseline Unlimited Inc.; PhiloDrill Corp.; Helios Aragon PTE Ltd.; V1 Countrywide Realty Corp.; Asia Axis Inc.; PXP Energy Corp.; Western Sulu Gulf Oil Corp.; Energy China Phils Branch Office; ExxonMobil; Prime Energy Minsupala Energy and Mineral Resource Development Corp.; Oriental Petroleum and Minerals Corp.; Freedom Renewable Energy Corp.; and Triangle Energy. -Jed Macapagal
