MANILA, Philippines - The Department of Energy (DOE) is aiming to award to the private sector by Dec.18 the areas for coal exploration and development under the Philippine Energy Contracting Round (PECR 5), a ranking official said yesterday.
Energy Undersecretary Zenaida Monsada said the Energy Resource Development Bureau is set to submit its endorsement of the winning bids to Energy Secretary Carlos Jericho Petilla within the month.
“The target is next month (awarding) because next Month is Energy Consciousness Month so December will be the awarding,” Monsada told reporters on the sidelines of the Coal Business and Policy Forum held in Makati yesterday.
Five companies have submitted nine applications for seven areas offered under PECR 5 for coal.
The nine applications are from TQGT Minerals Coalblack Mining Corp., (two applications), SAHI Mining Corp. (three applications), SAHI Mining Corp. with Boston Minerals Mining Corp., (two applications) and Philsaga Mining Corp., (two applications).
The PECR 5 is a regular activity held by the Department of Energy. It is a transparent and competitive system for awarding exploration contracts.
The goal is to showcase the petroleum and coal exploration opportunities in the country and to attract energy investors to develop the country’s indigenous coal, oil and gas resources.
The department has offered 15 coal areas for exploration and development under PECR 5 as part of the government’s continuing drive to develop indigenous energy resources.
For petroleum, Monsada said the contracting round has received interest from five foreign oil and gas firms.
“They are all foreign so we encourage them to take local partners,” Monsada said.
The bids will be submitted no later than March 31, 2015 with June 2015 as the target awarding for petroleum under PECR 5.