Oil & Gas News from UKTI March 2012

oil & gas newsWe publish here an extract from the UKTI’s Asia Pacific Oil & Gas Newsletter which covers several of the countries in the Asia Pacific Region. Information in relation to Oil & Gas in the Philippines compiled by UKTI officers in relevant British High Commissions is included here.

2 big foreign firms eyes Philippines refinery facilities

According to DoE Secretary, Jose Almendras, 2 big foreign firms are eyeing the

Philippines for their refinery facilities. Mr Almendras is promoting the country as a

strategic location for refinery hubs for the Asean market.

Liberated Power Plant opens new natural gas plant in Cebu City

A new natural gas plant was opened in March at Cebu City. The Libertad Natural

Gas Power Plant will generate 1,000 kilowatts of additional power to supply areas in

Cebu. This is the 3rd natural gas plant in the country, the other 2 are the

Malampaya and San Antonio Gasfield. Libertad Power Plant is operated by Forum

Energy in partnership with DESCO Inc.

San Miguel looks at LNG/CNG

San Miguel Power Holdings, one of the biggest players in the local power industry,

is looking at liquefied natural gas (LNG) or compressed natural gas (CNG) for its

planned power facilities. The company has 6 proposed facilities to be set-up in

major areas of the country including Cotabato, Leyte, Panay, Bulacan and Cavite.

Oil exploration to commence at Recto Bank

The Philippine government announced that oil exploration in Recto Bank (Reed

Bank) is commencing this year (2012). As the government stressed, the area is

not part of the territorial dispute amongst Asian countries.

Department of Energy identifies 8 companies undertaking drilling

activities in 2012

The Department of Energy has identified the following companies undertaking the

drilling activities in the country for 2012:

(1) Blade Petroleum for Service Contract (SC) 6 Cadlao Block in offshore

northwest Palawan;

(2) Galoc Production for SC 14C (northwest Palawan);

(3) PNOC Exploration Corp. for SC 37 in the Cagayan Basin and SC 63 in

southwest Palawan;

(4) Gas2Grid for SC 44 in the Visayan Basin;

(5) CIMP for SC 49, also in Visayas;

(6) Frigstad Energy for SC 50 in northwest Palawan;

(7) Pitkin Petroleum for SC 53 in the Mindoro-Cuyo Basin; and

(8) BHP Billiton for SC 54 and SC 59, both within southwest Palawan.

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