The Department of Energy (DOE) has unveiled 15 sites for oil and gas exploration as the Philippines seeks to achieve energy self-sufficiency.
More than 10 million hectares will be covered by 12 offshore and three onshore upstream oil activities off Northwest Palawan, East Palawan, and in the Sulu Sea basins under the Fourth Philippine Energy Contracting Round (PECR 4), the DOE said.
The contracting round held June 30 is expected to attract investments in oil and gas exploration activities, a key to achieving the country’s 60 percent energy self-sufficiency target by 2011.
This year’s contracting round will be the biggest yet offered by the Philippines government.