Philippine Daily Inquirer reported that the Department of Energyplans to offer again to investors contracts to explore and developthe 15 prospective coal and petroleum areas that did not attractbids in the recent Philippine Energy Contracting Round 4. In an interview, energy undersecretary Mr Jose M Layug Jr said thatof the 38 coal blocks offered under the recent PECR 4, 11 areas didnot receive any offer. Of the 12 prospective oil and gas sites upfor auction, bidders submitted offers for eight. Mr Layug said that "If a coal area is nominated again by theprivate sector, we will likely offer the 11 areas at the next PECR.For petroleum, we will again offer all the four areas that did notreceive bids at the next PECR." Mr Layug is hoping that the availability of improved seismic datawill draw the interest of the investors in the next PECR for theexploration and development of petroleum blocks. Single Girder Overhead Cranes
He added that "Inpetroleum, the availability of more seismic data is critical toattract the interest of investors." The government has stepped up efforts to encourage the privatesector to harness the country's indigenous energy sources. The DoE received on April 27th 2012 16 bids for contracts toexplore and develop oil and gas blocks. Of the number, only ninebids had qualified for further evaluation and possible awardinglater this year. Among the companies whose offers qualified for evaluation wereForum Pacific Inc, Mitra Energy Limited, Helios Mining and EnergyCorporation, Dil Moro Energy, Minenergy, Loyz Oil Pte Limited,Frontier Oil, Philodrill Corporation and Philex Petroleum. The restof the offers, however, may still be reconsidered in the future.These service contracts were estimated to require about USD 500million in investments each. Segment Lifter Manufacturer
For contracts to explore and develop coal, the DoE was able toreceive on March 30th 2012 a total of 69 offers. Officials said theoverwhelming number of bids proved the investors' unwaveringconfidence in the Philippines. Among the companies that submitted bids were Benguet Corporation,Semirara Mining Corporation, PNOC Exploration Corporation, SouthDavao Development Co Inc, SKI Mining and Empire Asia MiningCorporation. Mr Layug earlier stressed the need for the country to harness itsown coal resources given the increasing demand for the commodity,which now stood at about 12 million tonnes a year. Overhead Crane Parts Manufacturer
Local productionaveraged 7 million tonnes, of which 3 million tonnes are exportedto various Asian markets. Coal imports amount to 7 million tonnes ayear. It is expected that over the next 20 years, coal will remainthe major fuel for power generation. Source - Philippine Daily Inquirer.
He added that "Inpetroleum, the availability of more seismic data is critical toattract the interest of investors." The government has stepped up efforts to encourage the privatesector to harness the country's indigenous energy sources. The DoE received on April 27th 2012 16 bids for contracts toexplore and develop oil and gas blocks. Of the number, only ninebids had qualified for further evaluation and possible awardinglater this year. Among the companies whose offers qualified for evaluation wereForum Pacific Inc, Mitra Energy Limited, Helios Mining and EnergyCorporation, Dil Moro Energy, Minenergy, Loyz Oil Pte Limited,Frontier Oil, Philodrill Corporation and Philex Petroleum. The restof the offers, however, may still be reconsidered in the future.These service contracts were estimated to require about USD 500million in investments each. Segment Lifter Manufacturer
For contracts to explore and develop coal, the DoE was able toreceive on March 30th 2012 a total of 69 offers. Officials said theoverwhelming number of bids proved the investors' unwaveringconfidence in the Philippines. Among the companies that submitted bids were Benguet Corporation,Semirara Mining Corporation, PNOC Exploration Corporation, SouthDavao Development Co Inc, SKI Mining and Empire Asia MiningCorporation. Mr Layug earlier stressed the need for the country to harness itsown coal resources given the increasing demand for the commodity,which now stood at about 12 million tonnes a year. Overhead Crane Parts Manufacturer
Local productionaveraged 7 million tonnes, of which 3 million tonnes are exportedto various Asian markets. Coal imports amount to 7 million tonnes ayear. It is expected that over the next 20 years, coal will remainthe major fuel for power generation. Source - Philippine Daily Inquirer.