Bangsamoro bid draws wide interest

Bangsamoro bid draws wide interest | Daily Tribune

Six international and three local companies have submitted applications for Petroleum Service Contracts under the first Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Conventional Energy Bid Round and the 2024 Philippine Bid Round.

During the opening of application documents held on Tuesday, the Department of Energy (DoE) and the Ministry of Environment, Natural Resources, and Energy (MENRE) announced that three applications were received under the 1st BARMM Conventional Energy Bid Round.

These include submissions for the Cotabato Basin (PDA-BP-1) and two blocks in the Sulu Sea Basin (PDA-BP-2 and PDA-BP-3). All applications have passed the initial completeness check and will undergo further substantive evaluation.

In parallel, Energy Undersecretary Alessandro Sales revealed that the 2024 Philippine Bid Round attracted five applications for Service Contracts focused on native hydrogen exploration in Central Luzon.

Specifically, three bids were submitted for PDA-PH-1 and two for PDA-PH-2. These applications also cleared the initial assessment and will proceed to a comprehensive review.

Alegria field bid DQd

However, one application for the Alegria Field (PDA-PD-2) was disqualified due to incomplete documentation.

“We are very pleased that well-known international players in hydrogen and petroleum exploration and production have shown interest and participated in this year’s bid round,” Undersecretary Sales said.

“This activity marks the beginning of a transformative journey that may span several years. If we do not embark on this activity now, it will never come to fruition,” he added.

The DoE and MENRE are set to complete the legal, technical, and financial evaluations of all qualified applications by the fourth quarter of 2024. The top-ranked bidders will then be endorsed to the Office of the President for final approval.

This bid round has seen the highest number of valid applications for predetermined areas since the Philippine Energy Contracting Round 5 in 2015 and the Philippine Conventional Energy Contracting Program’s 2018-2019 offering.

Six of the eight predetermined areas received qualified applications, reflecting a growing interest from industry players.

As the bid rounds progress, the DoE continues to encourage further investor participation through the Nomination Process of the Philippine Conventional Energy Contracting Program, signaling the government’s commitment to harnessing the country’s energy potential.