Garin: Energy Secretary Sharon Garin vowed the timely implementation of the eight new petroleum service contracts (PSCs) that President Ferdinand R. Marcos Jr. announced Wednesday. The service contracts cover exploration areas across the Sulu Sea, Cagayan, Cebu, Northwest Palawan, East Palawan, and Central Luzon.
According to Philippines News Agency, these contracts have undergone a transparent and competitive selection process under the Philippine Conventional Energy Contracting Program (PCECP), as stated by the Department of Energy (DOE). The PSC Nos. 80 and 81 were awarded to a consortium consisting of Triangle Energy (Global) Limited, an Australian company; Sunda Energy Plc, registered in the United Kingdom; and Philippine-based firms PXP Energy Corporation and The Philodrill Corporation. These will be co-managed by the DOE and the Ministry of Environment, Natural Resources and Energy of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM-MENRE), targeting to revitalize petroleum exploration in the southern Sulu Sea, covering a total area of around 1.312 million hectares.
PSC No. 82, located at the Cagayan basin with an area of 480,000 hectares, was awarded to Triangle Energy (Global) Limited. Koloma, Inc., a company based in the United States, received PSC No. 83, which covers around 126,656 hectares, and PSC No. 84, which covers around 85,082 hectares, focusing on native hydrogen exploration in Central Luzon.
Gas 2 Grid Pte. Ltd. obtained PSC No. 85, involving the exploration of 127,475 hectares in onshore Cebu. Meanwhile, PSC No. 86 was awarded to a consortium of Filipino companies, including The Philodrill Corporation, Anglo Philippine Holdings Corporation, PXP Energy Corporation, and Forum Energy Philippines Corporation, covering 132,000 hectares in the Northwest Palawan Basin. PSC No. 87 in the East Palawan Basin was awarded to Ratio Petroleum Ltd. of Israel.
Garin, in a press release, stated that the service contracts represent the country's determination to secure new energy sources while embracing innovation and sustainability to reduce import dependence. She emphasized the expansion of Philippine energy exploration from conventional petroleum to native hydrogen. Garin noted that this initiative is about empowering regions, building local capacity, and creating opportunities for people. By collaborating with partners in the private sector and the BARMM, the government moves closer to achieving a vision of an energy-secure and inclusive Philippines.
