The 5th Philippine Energy Contracting Round (PECR5) is finally on track for its April launch as the Department of Energy (DOE) finalizes the list of oil/gas and coal exploration areas that will be up for auction. The DOE has come up with an initial list and will finalize this before the PECR5 launch next month, Ener
The 5th Philippine Energy Contracting Round (PECR5) is finally on track for its April launch as the Department of Energy (DOE) finalizes the list of oil/gas and coal exploration areas that will be up for auction.
The DOE has come up with an initial list and will finalize this before the PECR5 launch next month, Energy Secretary Carlos Jericho Petilla said in a text message.
Petilla identified 9 tentative areas for oil and gas, and 11 for coal. “However, we are still receiving nominations,” he added.
The list of areas for bidding will be finalized by April 4, Petilla said. The awarding of the bid contracts is set on June 30.
The DOE has been streamlining bidding rules and offering more assistance to investors to make sure all submitted bids are valid for competitive evaluation, DOE Undersecretary Ramon Allan V. Oca said.
The DOE will hold the equivalent of a pre-bidding conference to clarify all documentary and other requirements before the auction, Oca said. This is to help potential investors prepare for the PECR bidding.
Also, the department is now open to helping foreign companies “consularize” or authenticate their documents to be able to participate in the bidding.
“We want to be clear on the requirements and rules because it would be a waste if any of the bids were disqualified. It would be a more competitive bidding if there are many qualified proposals,” Oca said.