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More oil, gas exploration deals to be auctioned off.
CLOSE TO 8 billion barrels of oil equivalent resources remain undiscovered within the countrys 16 sedimentary basins, which are again being offered to prospective investors for further exploration and development.
Jesus H. Tamang, director for the energy policy and planning bureau at the Department of Energy, said these are potential sources for oil and gas, which can be made available through the next Philippine Energy Contracting Round.
We are now finalizing the different materials and requirements. And hopefully, by the first half of 2011, we will be able to conduct the next bidding round, Tamang said.
The PECR is a public bidding round aimed at …
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