Firms eyeing oil, gas blocks get bid deadline extension
The Department of Energy (DoE) has extended the deadlines for the submission of offers of companies wanting to explore and develop the country’s oil and gas blocks.
The DoE decided to extend the date of submission of prequalification documents to February 29, from January 31, to give the companies more time to prepare their bids for the Philippine Energy Contracting Round 4.
The submission of actual proposals for each area was also extended, with the earliest slated on March 30 for areas 1, 2, 8, 9, 10, 11, 12 and 13. The deadline for the bid proposals covering areas 6, 7, 14 and 15 has been set on April 6. For areas 3, 4 and 5, the deadline is July 31.
According to Energy Undersecretary Jose M. Layug Jr., the extension was made upon the request of the bidders themselves.
Most companies are currently working out consortium agreements with other existing and potential service contractors, he explained.
At the same time, the move also gave interested bidders more time to evaluate the new seismic data covering some of the areas offered under PECR 4.
Article continues after this advertisement“Their view of the [new] data is material to their proposed bids and work programs that will form part of the service contract, which will be awarded should the bidder win,” Layug said.
