Monday, May 20, 2019

DOE to Pitch PCECP in USA

Wazzup Pilipinas!

Following its successful kickoff in Singapore last month, the Department of Energy (DOE) gears up to continue its 2019 Philippine Conventional Energy Contracting Program (PCECP) International Road Show at the American Association of Petroleum Geologists (AAPG) Annual Convention & Exhibition (ACE) in San Antonio, Texas, USA on 19 to 22 May 2019. This will be followed by road shows in North America, South America, and the Middle East.

Energy Secretary Alfonso G. Cusi said, “As we support and strengthen the effort of President Duterte’s administration to explore and discover indigenous petroleum resources, the DOE remains committed in establishing the ‛Explore, Explore, Explore!’ program that will elevate energy independence, security and sustainability through effective and reasonable development of all indigenous energy resources in the Philippines.”

The AAPG ACE is one of the most prestigious events for the geosciences community and one of the largest global gatherings for oil and gas industry professionals and investors, with an estimated 7,500 professionals from more than 72 countries participating this year.

The DOE delegation to be headed by Undersecretary Donato D. Marcos will be presenting at the Henry B. Gonzalez Convention Center and conduct one-on-one meetings with various petroleum exploration companies at the booth located in the International Pavilion.

To date, 17 requests for the issuance of Area Clearance for various areas in the Sulu Sea, Recto Bank, Palawan, Quezon, Albay, and Mindoro have been received by the DOE from nine local and foreign companies. Three companies have successfully acquired Area Clearances and have submitted their respective Letters of Intent (LOIs) to formalize their Area Nominations for approval by the DOE.

Furthermore, six companies have viewed and four companies have purchased technical data sets that include seismic lines and well listings. Sixteen companies have so far conducted courtesy visits to the DOE for one-on-one meetings regarding the details of the PCECP.

Evaluation of applications is made by the DOE Centralized Review and Evaluation Committee based on the criteria pursuant to Department Circular No. DC2017-12-0017 and existing PCECP guidelines. Interested parties must comply with the legal, financial and technical requirements, which include the proposed work program and economic development plan for the contract area.

At present, there are 22 active petroleum service contracts in the Philippines with Shell Philippines Exploration, Total E&P, PNOC-EC, Nido Petroleum, Philodrill, PXP Energy, and Galoc Production Company, to name a few of DOE operator-partners. The Philippines is home to the Malampaya Deep Water Gas-to-Power Project, the largest and most successful natural gas industrial project in Philippine history.

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