Marcos Inks New Energy Deals, Hopes to Reduce PHL Dependence on Oil Imports - BusinessWorld Online

Marcos inks new energy deals, hopes to reduce PHL dependence on oil imports - BusinessWorld Online

By Sheldeen Joy Talavera, Reporter PRESIDENT Ferdinand R. Marcos, Jr. on Wednesday signed eight new petroleum service contracts (PSCs), representing a potential investment of around $207 million (around P12 billion) over a seven-year exploration period. The Department of Energy (DoE) said the awarding of these service contracts (SC) means that exploration for potential petroleum and hydrogen sources in key areas across the Sulu Sea, Cagayan, Ceb…

PH awards new 8 new oil exploration contracts to boost energy security

MANILA, Philippines — President Ferdinand Marcos Jr. on Wednesday unveiled eight new Petroleum Service Contracts (PSCs) for oil exploration areas in different parts of the country, which the government said would pave the way to  accelerate domestic energy exploration and production. The eight contracts — covering exploration areas across the Sulu Sea, Cagayan, Cebu, Northwest Palawan, East Palawan, and Central Luzon — are the largest batch of P…

PH awards energy service contracts in BARMM, Cagayan, Central Luzon, Cebu, Palawan

MANILA, Philippines – The Philippines presented eight newly signed Petroleum Service Contracts (PSC) on Wednesday, October 8.  The contracts, signed in a ceremony in Malacañang, “will pave the way for explorations in Palawan, Sulu, Cagayan, Cebu, and Central Luzon, [and opens] new opportunities for our energy sector,” President Ferdinand Marcos Jr. said in a speech.  Wednesday’s ceremony in Malacañang Palace featured the largest batch of PSCs aw…