MANILA, Philippines?In the interest of complete transparency, the Department of Energy said it would review all petroleum service contracts and power projects, particularly those located in blocks that lie near the South China Sea.

Among those that have been put under review are Forum Energy Plc?s Service Contract 72, which lies within the oil- and gas-rich Reed Bank basin in offshore Palawan, and the government?s plan to conduct a 2D seismic acquisition and processing over the Reed Bank and Kalayaan Island group, according to Energy Secretary Jose Rene D. Almendras.

Almendras told reporters that the P75-million 2D seismic acquisition program of the DOE has already been put on hold.

Both SC 72 and the planned 2D seismic acquisition lie within parts of the Reed Bank and Kalayaan Island group, which were earlier studied under the controversial Joint Marine Seismic Undertaking (JMSU), an agreement that the Philippines had signed with China and Vietnam to search for oil in the Spratlys.

But aside from saying that these contracts were under review and discussions, the energy chief declined to cite specific details.

According to Almendras, the DOE has formed a specific group to review the service contracts covering the exploration and development of the country?s indigenous resources.

?The exploration deals, for those that have been done and done properly, we will push through with them. Most that have been questioned, some of them have been questioned in courts, we will have the court rule on them. The rest, we will have to make sure that they will be done properly,? Almendras explained.

?And it?s not just the service contract in oil, there?s geothermal, there?s coal and there?s a whole bunch of things that have to be looked at. We?re also trying to make sure that we interact with the stakeholders,? he added.

Almendras disclosed that the DOE has sent letters to all applicants, pending applicants and listed applicants that the government was ?no longer committing to the turnaround time, as I?ve asked the energy department to study all of this.?

?We?re also doing an inventory of the service contracts and what has been done with these service contracts,? he added.

The intensive and aggressive review of all energy projects, contracts and deals being conducted by the DOE was meant to ensure that all those deals were above board, in line with the Aquino administration?s thrust toward complete transparency and accountability.

Almendras earlier said the government was reviewing P38 billion worth of power-related deals as well as the $3.95-billion concession agreement with National Grid Corporation of the Philippines.

The Aquino administration has apparently found a number of issues, concerns and obligations that needed to be addressed to ensure that all the projects were legitimate. The need for such a review has been underscored as the projects were costing the Filipino taxpayers.