Area 1 to Area 15 Philippines Oil & Gas Exploration Areas
The Department of Energy (DOE) will bid out 15 new oil and gas exploration areas mostly near the East Sea (Formerly called South China Sea) and Sulu Sea, under the Philippine Energy Contracting Round (PECR) 4 next month.
The DOE will officially launch PECR 4 on June 30.
Industry sources said there are already a number of interested parties that have expressed interest to join the bidding round.
“There are a lot of oil exploration companies willing to join the bidding. We will only know who will really bid on June 30,” a source said.
Among the areas that would offer are: