PNOC-EC eyes 9 oil, coal exploration areas
by Llewelyn Sanchez, InterAksyon.com
January 8, 2012

 MANILA, Philippines – PNOC Exploration Corp. (PNOC-EC) is interested in exploration activities in petroleum and coal areas in Palawan and Mindanao, according to its chairman.

The oil and gas exploration arm of PNOC is gearing up to join the bidding for five areas offered under the State’s petroleum contracting round and four areas in the coal contracting round, chairman Gemiliano Lopez said recently.

“We applied for five areas for petroleum. We’re looking at service contracts in Palawan and Mindanao. There is an existing study on these areas but we have to follow up,” Lopez added.

The government launched in mid-2011 at least 15 oil and gas exploration areas under the 4th Philippine Energy Contracting Round. This is estimated to draw $500 million in investments for each area, or a total of $7.5 billion.

Three onshore and 12 offshore blocks are offered in the petroleum contracting round, covering a total area of over 10 million hectares located in Northwest Palawan, East Palawan, and Sulu Sea basins.

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