DoE Concludes First Auction for New Gas Exploration Contracts

Manila Bulletin, March 4, 2004 | Go to article overview

DoE Concludes First Auction for New Gas Exploration Contracts


Byline: MYRNA M. VELASCO

The Department of Energy (DoE) claimed that it has successfully concluded early this week the bidding for some of the 46 new oil and gas exploration contracts offered under the First Philippine Petroleum Contracting Round (PCR1) scheme.

But when pressed on how many companies actually submitted bids, the energy department declined to give any figure; though, officials assured that it would certainly not be "a case of the missing bidders."

"Disclosure of the names and number of companies that actually applied for application contracts, however, is not allowed under the very strict bidding guidelines," the energy department explained.

It indicated that 16 companies actually looked at the investment opportunities under the offered service contracts; but the DoE refuses to give categorical statement on which among these firms advanced interests to the actual bidding process.

Among those identified to have expressed earlier interest include BHP Billiton of Australia, Total of France, StatOil of Norway, Norsk Hydro, Jenting Oil of Malaysia, Petro Vietnam and US firms Chevron Texaco, Amerada Hess, Hunt Oil, Occidental Petroleum, Marathon and Exxon Mobil.

"The PCR-1 closed successfully yesterday (March 2) drawing interest from international oil companies," the energy department said in a press statement.

The oil and gas blocks are strategically located in what were known as high-frontier areas; particularly near the Malampaya gas field in offshore Palawan and other oil and gas discoveries and producing fields in Southwest and East Palawan, Sulu Sea and Reed Bank. …

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DoE Concludes First Auction for New Gas Exploration Contracts
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