By Komfie Manalo
The Philippines is expecting a significant leap forward in its upstream petroleum sector after it opened the bidding for the exploration of five pre-determined areas (PDAs) for petroleum and native hydrogen in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) and Central Luzon.
The Department of Energy (DOE) has called on interested parties to submit their document bids and added that this early, the bidding for the native hydrogen has attracted global interest.
The government is confident the first energy exploration bidding involving areas in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) will draw players' interest in the power sector.
"The DOE (Department of Energy) and our BARMM counterparts are optimistic that the momentum built through our recent promotional efforts and roadshows will result in a strong turnout of applications for our PDAs and the successful awarding of Petroleum Service Contracts," Energy undersecretary Alessandro Sales said in a statement.
He added, "This milestone represents a significant leap forward for the country's upstream petroleum industry."
The DOE said it will open the application for the 1st BARMM Conventional Energy Bid Round and the 2024 Philippine Bid Round on August 27 at the Dusit Thani Manila in Makati City.
The DOE said interested parties may submit their bid documents until 11 a.m. on August 27.
The BARMM bid round covers three pre-determined areas (PDA) for petroleum exploration: PDA-BP-1 in the Cotabato Basin, in which 10 out of 14 wells have oil and gas shows; PDA-BP-2, which has one oil and gas show; and PDA-BP-3, which has four gas shows.
Both PDA-BP-2 and PDA-BP-3 are in the Sulu Basin.
Sales added that the national government is closely collaborating with the Bangsamoro government to develop indigenous energy resources in the BARMM.
"We continue to welcome partners committed to driving wealth creation in line with the energy transition and sustainable development," he said.
Moreover, the DOE is also set to open bids for two PDAs for native hydrogen —the world's first-ever offering for this kind of exploration.
The two native hydrogen PDAs are within the Zambales-Pangasinan areas.
The PDAs were launched by DOE last February 26.
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