DOE OFFERS 26 PETROLEUM, COAL EXPLORATION CONTRACTS

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THE Department of Energy (DOE) will identify 26 new potential coal and petroleum exploration areas during the launch of the 5th Philippine Energy Contracting Round (PECR5) to be held this coming Friday. PECR is an awarding system that will allow investors to acquire exploration, development, and production of oil and gas sites contracts in the country that the DOE will offer. As part of its long-term goal to ensure energy security, the DOE will be launching the PECR5 on May 9, 2014. During this next round of PECR, DOE will offer 11 new areas for petroleum exploration with large concentration in Luzon, and 15 new and nominated areas for coal exploration, mostly located in Mindanao.

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