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Guidelines on the Awarding of Service Contracts for the Exploration, Development and Production of Native Hydrogen
WHEREAS, Section 2, Article XII of the 1987 Constitution provides that "xxx The exploration, development, and utilization of natural resources shall be under the full control and supervision of the State. The State may directly undertake such activities, or it may enter into co-production, joint venture, or production-sharing agreements with Filipino citizens, or corporations or associations at least sixty per centum of whose capital is owned by such citizens. Such agreements may be for a period not exceeding twenty-five years, renewable for not more than twenty-five years, and under such terms and conditions as may be provided by law.xxx";
Published at: BusinessWorld and Daily Tribune
Date Published [mm/dd/yyyy]: 11/21/2023