PH, Saudi Arabia see power tie-up materializing in three months

The Department of Energy (DOE) said the country’s power cooperation plan with the Kingdom of Saudi Arabia (KSA) may be finalized “in three months” with a series of bilateral meetings now set.

In a statement, the DOE said key energy officials from the Philippines and the Ministry of Energy of the KSA would hold bilateral talks to speed up the realization of a roadmap for energy cooperation between the two countries.

“I welcome the joint efforts by both countries to implement the provisions of the MOU (memorandum of understanding), which is a direct follow-through of the discussions held during President Ferdinand Marcos Jr.’s visit to Saudi Arabia in October last year,” Energy chief Raphael Lotilla said Wednesday.

READ: DOE officials fly to Saudi Arabia to pursue energy deals

He noted that Marcos’ trip to KSA could lead to more foreign investments, with Saudi state-owned firms showing “strong interest” in the local power sector.

“[Saudi Energy Minister Abdulaziz bin Salman Al Saud] and his team expressed interest in our native or naturally occurring hydrogen resources. Given Saudi Arabia’s extensive expertise in the exploration and development of upstream sectors, this cooperation holds promising benefits for both countries,” Lotilla added.

According to the DOE, the MOU outlines key areas of collaboration, including petroleum derivatives, native hydrogen exploration, sustainable aviation fuel (SAF), digital technology for electrical systems management, and energy efficiency.

“We will also jointly explore the application of digital technology and artificial intelligence (AI) to enhance the management of our electrical systems and broader energy infrastructure,” the energy secretary said.

In October, DOE officials flew to Saudia Arabia to explore efforts on energy security and the push for cleaner power sources.

According to the Organization of the Petroleum Exporting Countries, Saudi Arabia is a major supplier of crude oil and houses around 17 percent of the global market’s proven petroleum reserves.