The government is confident the first energy exploration bidding involving areas in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) will draw the interest of players in the power sector.
“The DOE (Department of Energy) and our BARMM counterparts are optimistic that the momentum built through our recent promotional efforts and roadshows will result in a strong turnout of applications for our PDAs (predetermined areas) and the successful awarding of Petroleum Service Contracts,” Energy Undersecretary Alessandro Sales said in a statement on Thursday.
The agency said three potential areas in the BARMM were identified for the development of the region’s energy resources, particularly petroleum.
READ: PH opens BARMM for energy exploration
Sales said this planned auction, through a “strong collaboration” with the Bangsamoro government, would advance the country’s upstream petroleum industry.
“We continue to welcome partners who are committed to driving wealth creation in line with the energy transition and sustainable development,” he said.
Aside from the BARMM Conventional Energy Bid Round, the DOE is also opening four PDAs for the 2024 Philippine Energy Bid Round: two areas for the possibility of developing and producing petroleum in Northern Palawan and Southern Cebu basins, while the other two up for grabs are in Central Luzon for native hydrogen exploration.
The DOE added it was looking at developing stranded petroleum reserves in the Calauit Field in Northwest Palawan and the Alegria Field in Cebu.
Opening of bids for the two auctions will be on Aug. 27. It said accepted application documents would undergo further legal, technical and financial evaluations.
The deadline for the submission of proposals is on Aug. 27 at 11 a.m.