The DOE has launched the 5th Philippine Energy Contracting Round (PECR5) for the exploration of potential coal and petroleum areas in the country.
“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.
He added that there were three potential areas for petroleum under the Bangsamoro, but the national government excluded those temporarily and promises to put the areas back in concurrence with the Bangsamoro government once it is duly formed.
The PECR5 offers eleven (11) areas for petroleum exploration mostly located in Luzon, and fifteen (15) areas for coal exploration, largely concentrated in Mindanao.
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. Meanwhile, for coal, the applicants may start submitting by 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 targeted on 21 November 2014 and 04 May 2015, respectively.
