DoE sets energy project bidding
THE Department of Energy (DoE) will conduct today, Monday, biddings for energy projects for various regions in the country, including the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM).
These are under the 1st Conventional Energy Bid Round for the Bangsamoro Autonomous Region in Muslim Mindanao and the 2024 Philippine Energy Bid Round.
For the first program, the DoE, with the Ministry of Environment, Natural Resources and Energy (Menre) of BARMM, will offer four predetermined areas (PDAs) for the investment, exploration, development and production of the region’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 IEB Circular on the Joint Award of Petroleum Service Contract (PSC) and Coal Operating Contracts (COCs) in the BARMM area in July 2023,” Energy Secretary Raphael 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 nurturing a thriving business landscape in the region are even closer to realization,” he added.
The IEB circular on the joint award of PSCs and COCs in the BARMM was signed on July 6, 2023.
The circular operationalizes 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 BARMM.
For the 2024 Philippine Energy Bid Round, two PDAs for the development and production of petroleum with confirmed resources in Northwest Palawan and Southern Cebu basins and two PDAs for native hydrogen exploration in Central Luzon will be offered.
The 2024 Philippine Bid Round is a government-led process inviting oil and gas companies to participate in competitive bidding to explore and develop specific areas within the country.
“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,” Lotilla said.
The DoE said it continues to pursue more gas exploration, including the exploration, development, and production of native hydrogen sources, which can serve as a transition fuel for the country to move smoothly toward the total utilization of renewable energy.