For the planning period, oil will still be the
primary fuel source with an average share of 28.2
percent to the total energy supply and with an
average growth rate of 2.1 percent in the BAU
scenario. However, under LCS, the share of oil is
expected to decline contributing an average of 27
percent share at an annual moderate growth rate
of 1.9 percent on the average. This is attributed
to increased penetration of alternative fuels and
renewable energy.
The domestic upstream sector targets to harness
potential oil and gas fields through the awarding
of 61 Service Contracts from the conduct of the
PECR during the planning period.