Philippines launches PECR5 bid round

The Philippines Department of Energy (DOE) launched the 5th Philippine Energy Contracting Round (PECR5) on 9 May 2014, and scheduled international roadshows in Texas (12-16 May 2014), Singapore (10-14 June 2014), and Turkey (14-17 September 2014) to encourage oil exploration players to join the contracting round.

“Through PECR, we created an equal playing field for all interested parties, in which the government ensures that all service contracts and offered areas are in accordance with existing Philippine laws and policies,” Energy Secretary Carlos Jericho Petilla said in his opening message at the official launching ceremony held at the Intercontinental Hotel Manila, Makati City (photo at right).

The PECR5 offers 11 areas for petroleum exploration, most located in Luzon, and 15 areas for coal exploration, largely concentrated in Mindanao, as follows:

For petroleum, submission of applications will start on 02 June 2014 and will end on 27 February 2015 (11:00 AM, PST). Applications will be opened only after the submission period.

For coal, applicants may begin submitting applications on 29 May 2014, until 19 September 2014 (11:00 AM, PST).

After the opening of applications, there will be a 2-month evaluation period. Applications will be evaluated for compliance with the DOE requirements on legal, technical, and financial capability. Applications are required to include the proposed work program and economic development of the proponent.

Endorsement of winning applicants for coal and petroleum is planned for 21 November 2014 and 04 May 2015, respectively.

For more information, visit the PECR5 website: www.doe.gov.ph/PECR5.