DOE pushes back deadline for PECR 5 applications to end-Sept.

The Department of Energy (DOE) is delaying further to end-June the deadline for oil and gas exploration companies to apply for petroleum service contracts under the 5th Philippine Energy Contracting Round (PECR 5).

 

Originally set at end-March, the PECR 5 timeline was revised upon the recommendation of the Review and Evaluation Committee (REC) "in order to provide more assistance to the prospective energy developers," the DOE said in a statement Thursday.

 

"The revision will enable the potential proponents to review and evaluate the additional available marine seismic data acquisition, processing and interpretation in the offered areas. Additional data will be made available on February 2015," Undersecretary Zenaida Monsada said.

 

In December, Energy Secretary Carlos Jericho Petilla said the agency was earlier considering May as deadline for application under PECR 5.

 

The endorsement of winning applicants was also pushed back to September 4 from June 4.

 

To promote exploration and development of indigenous hydrocarbon resources in the Philippines, PECR 5 covers 26 areas including 15 for coal and 11 for oil and gas.

 

DOE data shows there are 11 data packages or areas the government has opened for exploration and under petroleum contracts: Ragay, Panay onshore, Panay offshore, two in Northeast Palawan, Southeast Palawan, Recto Bank, and four in West Luzon.

 

The areas include onshore, shallow and deep water plays in both frontier and established hydrocarbon fairways. —Danessa O. Rivera/KG, GMA News