As part of its continuing thrust to ensure energy security in the country, the Department of Energy (DOE) has issued the Department Circular (DC2014-02-0005) for the 5th round of the Philippine Energy Contracting Round (PECR-5).
The PECR-5 Circular reiterates the government’s promotion of the exploration, development, and production of the country’s indigenous petroleum and coal resources through a transparent and competitive system for awarding service and operating contracts with local and foreign investors.
“The DOE is committed to maintaining economic growth by ensuring and sustaining investors’ interest in the upstream energy projects in the country,” said Energy Secretary Carlos Jericho L. Petilla, adding that the PECR “will help lessen our dependence on oil and coal imports by tapping available indigenous energy resources.”
The said Circular also forms the Review and Evaluation Committee (REC), which shall identify the prospective petroleum and coal areas within the Philippine territory.In coordination with the Local Government Units (LGU) involved, the identified areas will be offered to interested applicants. The REC is, likewise, tasked to examine, evaluate, and review the qualifications of project applicants based on their work program, legal, technical, and financial qualifications.
The target launch of the PECR-5 for coal and petroleum is on 25 April 2014. In line with the said launch, the DOE will conduct information, education, and communication (IEC) campaigns in the host communities and areas near the exploration areas from May to June 2014.The IEC for petroleum will be in Palawan, Mindoro, Iloilo, and Sulu, while the IEC for coal will be in Isabela, Albay, Cebu, Davao, and Zamboanga.
Moreover, the DOE will present the PECR-5 for petroleum in international roadshows scheduled in Texas, U.S.A (12-16 May 2014), Singapore (10-14 June 2014), and Turkey (14-17 September 2014) to encourage oil exploration players to join the contracting round.
For more details on the timelines and guidelines of the PECR-5, please visit the DOE website:www.doe.gov.ph; https://www.doe.gov.ph/doe_files/pdf/Issuances/DC/DC2014-02-0005.pdf .
*** The PERC-5 circular was published today (17 March 2014) in The Philippine Star (B-11 to B-13) and in The Philippine Daily Inquirer (F3 to F5).