Wellness in Business - Philippines to offer 18 sites for oil exploration

Business - PH to offer 18 sites for oil exploration - INQUIRER.net: "To boost the country's energy security, the Department of Energy is set mount road show in Asia, the United States and Europe within the third quarter, offering prospective investors 18 potential oil and gas areas for exploration and development.

“It looks very exciting,' Energy Secretary Jose Rene D. Almendras told reporters Monday night on the sidelines of an oil company marketing event. 'Even in the international scene, there's so much interest in the Philippines' oil exploration... all the large exploration companies, some of which have yet to come here, are now coming.”

Almendras did not disclose the interested parties but noted that some of them were the “usual suspects” including BHP Billiton and Exxon.

According to Almendras, the road show will kick off in July, after the government has announced the areas to be offered under the Philippine Exploration Contracting Round (PECR) for 2011."