The Department of Energy (DOE) is calling for interested applicants to challenge a company’s application to develop a petroleum area in Cagayan Basin under the Philippine Conventional Energy Contracting Program (PCECP).
In a notice posted by the DOE in its website, the agency said the resource is currently targeted to be developed by Triangle Energy (Global) Ltd. but other applicants may also submit their applications for the nominated area.
DOE added a pre-challenge conference will be conducted on July 26 with the deadline for the submission of documents by counter-proponents set on September 4.
The agency said challengers must also submit their complete application documents at the DOE Records Management Division and pay a corresponding application challenge fee of P1 million on or before September 4.
DOE said opening of application and bid documents will be held at its headquarters by 1:30 p.m. of September 4.
Under PCECP, interested investors of oil, gas and coal resources can apply for service contracts via bidding for pre-determined areas by the DOE or by nominating their preferred areas that can be challenged by other developers.
