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PNOC-EC keen on exploring

Mindanao’s onshore

PROJECTS & THE Philippines’ state-run PNOC Exploration
COMPANIES Corp. (PNOC-EC) said last week that it is eager
to launch an onshore exploration campaign on
the country’s second-largest island of Mindanao.
The company, a unit of state-owned Phil-
ippine National Oil Corp. (PNOC), has begun
reviewing new drilling techniques for use in the
environmentally sensitive Liguasan Marsh.
“We continue to have studies and dual part-
nership with the academe and some of our
proponents in order to undertake onshore devel-
opment and using the newer methods and tech-
nologies, so we can reduce our negative impact
to the environment,” PNOC EC president Roz-
zano Briguez said at a virtual industry event on
January 21.
The 200,000-hectare (2,000 square km)
marsh – which straddles the provinces of North
Cotabato, Maguindanao and Sultan Kudarat –
is thought to contain significant hydrocarbon
resources.
“We will start with Sultan Kudarat’s portion of
the Liguasan Marsh first and then let the policies
of [Bangsamoro Autonomous Region in Muslim
Mindanao] BARMM and [the Department of
Energy] DOE be sorted out before we will even-
tually explore the area.” The Manilla government is eager to encour-
The Department of Environment handed age new exploration efforts as the country’s larg-
management of the marsh to the BARMM est natural gas field – Malampaya – nears the
government in December 2020, following Phil- end of its lifespan. The Philippines relies heavily
ippine President Rodrigo Duterte’s repeated on the Malampaya offshore natural gas field to
pledges that the central government would not power several thermal power plants (TPPs) on
take any oil and gas revenue beyond taxes. the main island of Luzon.
“Now that you have the BOL [Bangsamoro The central government sited the field’s
Organic Law], I guarantee you, [you can] exploit decline, with production potentially running
your resources. Hurry up. Nobody else will dry before the end of the decade, as one of the
touch Liguasan Marsh, That’s yours. That was my reasons behind its decision in October 2020 to
commitment to you,” local daily Inquirer quoted lift its six-year moratorium on offshore explora-
Duterte as saying in June 2019. tion in disputed waters of the South China Sea.™

PTT reviews COVID-19’s

impact on Thai LNG demand

PERFORMANCE STATE-OWNED Thai major PTT has said it is growth projections for this year as the country
monitoring how the country’s latest outbreak of grapples with a new wave of infections.
coronavirus (COVID-19) infections will affect The state major had previously forecast that
domestic demand for liquefied natural gas (LNG). domestic LNG demand would climb by 3-4%
The senior executive vice-president for PTT’s year on year in 2021 from the 4,700mn cubic feet
gas business, Wuttikorn Stithit, said on January (133mn cubic metres) per day recorded in 2020,
27 that the company would have to review its a number that was itself down 8% y/y.

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