(MENAFN) Nine local and foreign investors are seeking the approval of the Department of Energy (DOE) of the Philippines for their targeted nomination service areas in petroleum blocks under the Philippine Conventional Energy Contracting Program (PCECP).
Until now, the DOE said 17 requests for the issuance of area permission for various areas in the Sulu Sea, Quezon province, Albay province, and Mindoro province have been received by the DOE from these nine companies.
Three companies have successfully obtained area clearances and submitted their respective letters of intent (LOIs) to formalize their area nominations for approval by the DOE.
Moreover, the DOE said six companies have viewed and four companies have purchased technical data sets that include seismic lines and well listings.
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