TAGUIG CITY - The Department of Energy (DOE) shall be conducting the opening of applications for nominated areas under the Philippine Conventional Energy Contracting Program (PCECP) on August 16 (Sulu Sea Basin), 19 (Northwest Palawan Basin), and 20 (Southeast Luzon Basin) at the agency's headquarters.
Each of the three nominating companies has complied with area clearance and nomination requirements prescribed under Department Circular (DC) No. 2017-12-0017 on the PCECP Circular and Guidelines.
Challengers have until 11:00 AM on each day to submit their application requirements before bids are opened at 1:30 PM.
The DOE has setup a one-stop-shop at the venue to accommodate any last-minute submissions from challengers until the prescribed deadline.
Members of the Centralized Review and Evaluation Committee (C-REC) will be spearheading the bid opening activity to run the "completeness check" for each submitted PROPOSAL. The lack of any documentary requisite in the PCECP Guidelines and Application Checklist, which includes legal, technical and financial qualification documents, will warrant an automatic disqualification.
On the other hand, qualified applications shall be subjected to further exhaustive evaluations from the C-REC, before the endorsement of the highest-ranked application to the Secretary. This would then be followed by the signing of a corresponding Service Contract by the President.
The DOE is pushing to reinvigorate petroleum exploration and development activities in the country to serve as a cushioning measure against the volatility of oil prices, which has a direct impact on the costs of transport and power. One successful case is the Malampaya Deep Water Gas-to-Power Project, the largest natural gas industrial project in the Philippines, which recovered all costs in four years.
Thus, the Department is committed to 'Explore, Explore, Explore' in its pursuit of energy independence, security, and sustainability through the effective and reasonable development of all indigenous energy resources in the Philippines.
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