The country’s upstream petroleum industry is set to make another milestone with the opening of application documents for the 1^st Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Conventional Energy Bid Round for Petroleum and the 2024 Philippine Bid Round, on 27 August 2024 at the Dusit Thani Manila, Makati City.

This back-to-back event will feature three (3) Pre-Determined Areas (PDAs) for petroleum exploration in the BARMM, two (2) PDAs for petroleum development and production, and two PDAs for native hydrogen exploration—marking the world’s first-ever offering for native hydrogen exploration.

On 26 February 2024, the DOE and the Ministry of Environment, Natural Resources and Energy (MENRE) launched the 1^st Conventional Energy Bid Round for BARMM and the 2024 Philippine Energy Bid Round where it offered four (4) PDA’s for investment, exploration, development and production of the BARMM’s indigenous resources; two (2) PDA’s for the development and production of petroleum in Northern Palawan and Southern Cebu basins, and two (2) PDA’s for native hydrogen exploration in Central Luzon under the 2024 Philippine Bid Round.

“This milestone represents a significant leap forward for the country’s upstream petroleum industry”, Energy Undersecretary Alessandro Sales said. It underscores the strong collaboration between the National Government and the Bangsamoro Government, with the shared goal of awarding petroleum service contracts to qualified applicants who will partner in the development of the BARMM's energy resources.

Additionally, the DOE aims to develop and utilize stranded petroleum reserves in the Calauit Field in Northwest Palawan and the Alegria Field in Cebu.

During the event, accepted application documents will undergo a completeness check to determine their eligibility for further legal, technical, and financial evaluations.

Interested parties have until 11:00 AM on 27 August 2024 to submit their application documents. The DOE and MENRE will facilitate submissions through a One-Stop Shop on designated dates and places:

*No applications shall be accepted during holidays:

23 August 2024 - Ninoy Aquino Day (Proclamation No. 665, s. 2024)

26 August 2024 - National Heroes’ Day (Proclamation No. 368, s. 2023)

“The DOE and our BARMM counterparts are optimistic that the momentum built through our recent promotional efforts and roadshows will result in a strong turnout of applications for our PDAs and the successful awarding of Petroleum Service Contracts”, Undersecretary Sales said. “We continue to welcome partners who are committed to driving wealth creation in line with the energy transition and sustainable development”, he added.

Meanwhile, the DOE in partnership with Rystad Energy and the Energy Council is set to hold a forum on investment opportunities in the energy sector with focus on the country’s upstream conventional energy on 23 August 2024 at the Holiday Inn and Suites, Makati City.

More than 100 energy professionals and decision-makers will be attending this important event which the DOE, the Energy Council, and Rystad Energy envisions to become an annual activity to draw attention to and interest in the Philippines as a new exploration and investment hotspot in Southeast Asia.

Energy Council is a leading investment network for energy companies followed by 100,000 senior professionals around the globe. Rystad Energy, on the other hand, is a leading global independent research and business intelligence company dedicated to helping clients navigate the future of energy. ###