PetroEnergy to pursue geothermal plant project

MANILA, Philippines - Publicly-listed PetroEnergy Resources Corp. (PERC) will push through with its 40-megawatt (MW) Maibarara geothermal power project following an environmental compliance certificate from the Department of Environment and Natural Resources (DENR).

In a disclosure to the Philippine Stock Exchange (PSE), PERC said it would develop Maibarara, located along Calamba, Laguna and Sto. Tomas, Batangas, and commission the first 20-MW integrated steamfield and power plant by late 2013.

PERC and its environmental consultant, SMEC Inc., conducted the baseline environmental studies alongside initial consultation with local government units immediately after the DOE award of the Maibarara service contract last Feb 1.

 The environmental examination report was submitted on May 16 and after a series of consultations, the report was finalized and accepted by DENR-4A last July 8, 2010.

The ECC granted by DENR-4A covers the four major phases of the project: well work-over and drilling, installation of the fluid collection and reinjection system, power plant construction, and the erection of transmission facilities.

The ECC requires PERC to, among other conditions, form a multi-partite monitoring program, establish an environmental guaranty fund, and undertake mitigating measures whenever necessary in each phase of the project.

“Achieving this milestone is a testament to our continuing and meaningful collaboration with public agencies and private partners alike. The supervision provided by DOE and through review conducted by DENR-4A show the government’s commitment to clean and renewable energy projects by credible industry players. With the ECC issuance, PERC and our partners will now prepare for the work-over of the wells scheduled late this year to early next year. Naturally, our consultation with local communities and stakeholders will continue,” PERC president Milagros Reyes said.

Energy assistant secretary Mario C. Marasigan said PERC obtained the ECC in record time, noting that Maibarara is the first among the nine geothermal service contracts awarded last year to obtain an ECC for the entire scope of project development.

 “The release of the ECC for the Maibarara shows that environmental protection and community consultation are paramount considerations in DOE’s projects. PERC’s accomplishment should also spur other geothermal service contractors to meet their work program commitments to the DOE, such as completing their feasibility studies and obtaining their respective project ECCs, among others,” he said.

PERC has forged agreements with Trans-Asia Oil and Energy Development Corp. and PNOC – Renewables Corp. to develop the Maibarara geothermal power project.