The Department of Energy (DOE) and the Ministry of Environment, Natural Resources and Energy (MENRE) of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) will launch on Monday, 26 February 2024, the 1st Conventional Energy Bid Round for BARMM. On the same day, the DOE will also launch the 2024 Philippine Bid Round. 

Four (4) Pre-Determined Areas (PDAs) shall be offered for investment, exploration, development and production of the BARMM's indigenous resources, as mandated by the Intergovernmental Energy Board (IEB). 

“This is another milestone for the Ferdinand Marcos Jr. Administration in advancing the development of the BARMM, following the landmark signing of the Intergovernmental Energy Board (IEB) Circular on the Joint Award of Petroleum Service Contract (PSCs) and Coal Operating Contracts (COCs) in the BARMM area in July 2023,” Energy Secretary Raphael P.M. Lotilla said.   

“The resources identified in the BARMM area are enormous assets that we can fully develop. As we go another step forward to harnessing these assets, our aspirations for promoting economic growth, generating employment opportunities, and nurture a thriving business landscape in the region are even closer to realization,” the Secretary added. 

The IEB Circular on the Joint Award of PSCs and COCs in the BARMM was signed on 06 July 2023. It operationalizes the provision under Section 10, Article XIII of Republic Act No. 11054 or the Organic Law for the Bangsamoro Autonomous Region to jointly grant rights, privileges, and concessions for the exploration, development, and utilization of uranium and fossil fuels such as petroleum, natural gas, and coal within the territorial jurisdiction of the Bangsamoro.

Meanwhile, two (2) PDAs for the development and production of petroleum with confirmed resources in Northwest Palawan and Southern Cebu basins and two (2) PDAs for native hydrogen exploration in Central Luzon will be offered under the 2024 Philippine Bid Round. 

The Philippine Bid Round is a government-led process that invites oil and gas companies to participate in competitive bidding for the right to explore and develop specific acreage within the country. This initiative aims to facilitate efficient oil and gas exploration, promote economic growth, and ensure responsible resource management within the nation.

The Philippines holds immense potential for energy exploration that could contribute to the country's energy security and unlock opportunities for economic growth in the area where these resources are located.

Given this, the DOE continues to pursue more gas exploration, including the exploration, development, and production of native hydrogen, which can serve as a transition fuel.

“Leveraging on these opportunities, we invite local and foreign investors to be our partners in achieving energy security and self-sufficiency in the region and the entire Philippines,” Secretary Lotilla said. ###