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Oil & Gas News from UKTI May 2012

DOE to open bidding for oil and gas explorationoil & gas news

The Philippine Department of Energy (DoE) is set to open the bids for oil and gas exploration in the country this April.  Part of the Philippine Energy Contracting Round (PECR) 4, there are 15 areas for bidding – 3 onshore and 12 offshore sites. These areas are estimated to generate investments worth USD500 million per area. 
There are 41 prequalified exploration companies including British firms, Shell and
Pitkin Petroleum.   

Galoc resumes production

According to Galoc Production Company, operator of the Galoc oil field, it will resume production in Galoc this April after a refurbishment shutdown.  Forum Energy has 2% interest in the production. Its refurbishment included maintenance and inspection works and upgrade of systems.  A plan to move to Phase 2 development of the oil field is underway. Galoc field is located offshore Palawan and is under the Service Contract 14C.  

Natural Gas Reserves in Recto Bank

UK registered firm, Forum Energy, reported that Recto Bank may have 16 trillion cubic feet of natural gas.  This is based on the interpretation of the 3D and 2D data acquired from the Sampaguita Gas Field. Recto Bank under SC 72 is within the Spratlys Group of Islands, part of which is in dispute due to territorial claims of various Asian countries including China.  Local company, Philex Mining has major interest in Forum Energy are now looking for
funding to push through with the exploration. SC 72 covers 880,000 hectares of Recto Bank.  This is within the country’s 200-nautical-mile exclusive economic zone based on Republic Act 9522, or the Philippine Archipelagic Baselines Law, signed on March 10, 2009.

 

Information from the UKTI Asia Pacific Oil & Gas Newsletter.

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Charity project in support of Community Health and School Sanitation in the Province of Pampanga, Republic of the Philippines: 26th May 2012

The Rotary Club of London (RCL) is the largest Rotary Club in the capital and is celebrating its 100th anniversary this year.  The International Committee of RCL has joined forces with the Rotary Club of Pampanga Norte (RCPN) to assist a project in Pampanga Province in the Philippines to improve community health and school sanitation.  In order to help raise funding for the project, RCL are organising a Philippine International Evening at the Rotary International District 1130 Headquarters, 6 York Gate, Marylebone Road, London NW1 4QG on Saturday 26th May.  This particular project was chosen out of several others as being the most likely to succeed due to the presence of the Pampanga Norte Club who will administer the funding.community health

 

The British Embassy in Manila and the Philippine Embassy in London have encouraged us to enlist the help of the Co-Chairmen of the Philippine British Business Council to ask if you may be able to assist RCL in its effort to raise funds for this extremely worthwhile project with a financial donation.  We realise that you will have existing policies towards charitable giving but we hope that, given your particular interest in the Philippines, and the importance of the project to Pampanga Province, you may be willing to consider this particular event as worthy of support.  In return we are more than happy to exhibit corporate logos etc on wall space in the venue.

 

Click HERE to read a copy of the flyer for this event together with a complete copy of the project itself for your evaluation.  I am sure you will agree that it is indeed worthy of support.  The Philippine Ambassador, Mr Enrique Manalo, has given his blessing to this event and hopes to be able to attend himself barring another priority taking precedence.  Indeed, we hope that you yourself will be able to attend.  The RCL and the RCPN do hope that supporters of the Philippines will give this their early and close attention and consider a donation in the region of up to £500.

 

Donations and ticket applications should be sent to the address in the flyer. Cick on the links below:

Event Flyer No.2

Project Detail RT12-Intl-Pampanga-22 Mar

 

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Philippines Road Transportation ICT Infrastructure Project

Invitation to bid to provide a new ICT solution for Philippine’s land transportation system.

The UKTI website is reporting that The Philippine government is inviting bids to provide them with a new ICT solution for the country’s land transportation system. The new system will be expected to handle some 18 million transactions annually, or around 126 million transactions over a seven year period. It must also be capable of web-based, kiosk, and desktop transactions.

Bidders must be able to design, build, operate, service and maintain the new computer system and have a proven track record of implementing and maintaining wide-scale ICT systems.

For further information on this business opportunity and help with the tender process, you must register with the UKTI team in Manila through the UKTI website.

The link to register is here.

 

 

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Philippines 2012 Outlook

This 2012 Outlook has been provided by the Philippines Embassy in London and shows a strong developing position in many areas, with commercial opportunities appearing in a number of sectors.Philippines outlook

  • ·         Expect acceleration of public expenditures to continue well into 2012 and beyond, as well as substantial acceleration of disbursements, including those for infrastructure and capital outlay, in the coming months. 

 

  • ·         Investment is expected to post a strong growth in 2012 despite the global economic uncertainties, as we anticipate strong investments from both public and private sectors.  The construction sector will get a boost from public construction in 2012 due to continued spending for the government’s Disbursement Acceleration Program’s projects that were carried over from the previous year, and from the faster budget execution process of government. Construction will also get a boost from the acceleration of the implementation of the Private-Public Partnership program this year.

 

  • ·         In addition, expect that private construction will remain robust, particularly in the property sector, given the upward momentum in the office sector, and the relatively high BPO office demand in strategic areas across the country.  Also expect the residential sector to remain supported by the demand from families of overseas Filipinos.  

 

  • ·         There is likewise an expected expansion of investments in energy; mining; low-cost housing and office buildings; and the industries in the priority areas – agribusiness, consumer durables, information technology (IT), health and wellness, transport, telecommunications, and especially tourism to contribute positively to the country’s economic growth in 2012.

 

    • ·         The performance of the real estate sector will be complemented by the continued robust performance of the business process outsourcing industries. Meanwhile, the performance of the other services sector will benefit from the surge in tourism as we improve our infrastructure, intensify our tourism marketing campaigns, and maintain a favorable peace and order situation.


 

  • ·         Food manufacturing will benefit from stronger consumer demand spurred by government spending, softening prices of raw materials, and better weather conditions. In the second half of 2012, the manufacturing sector is expected to post a remarkable growth as the food sector further expands, election spending provides an impetus up to the national and local elections in 2013, and the electronic industry registers higher growth.

 

  • ·         On the expenditure-side, the resilient domestic economy will support a continued expansion in household consumption expenditure. Household consumption will be spurred by the continued tripartite efforts of the government, private employers and workers to improve the country’s labor and employment situation; a sustained inflow of overseas Filipinos remittances which has been counter-cyclical in the past; and the implementation of social protection programs.

 

  • ·         While NEDA is optimistic that 2012 will be substantially better than 2011, it remains vigilant and continues to closely monitor external developments that continue to pose significant risk to the country’s growth.   As many analysts expect, global economic recovery might stall in 2012 mainly due to the growing concerns over Europe. The International Monetary Fund projects the Euro area will suffer a mild recession due to lingering concerns on how to appropriately and quickly restore confidence in the economy in order to support growth while at the same time addressing fiscal imbalance and providing more liquidity and monetary accommodation. Similarly, the government is also watching closely developments in the U.S. economy, whether the recovery will gain momentum or will remain fragile. Likewise, the government recognizes the risk that China could slow down or even experience a “hard landing.”  
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