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Marcos Seals USD 207-M Energy Deals: PH Pushes Big On Oil, Gas, And Hydrogen Exploration
Screengrab from RTVM
President Ferdinand R. Marcos Jr. on Wednesday, Oct 8, unveiled the country’s biggest batch of energy exploration contracts yet — eight Petroleum Service Contracts (PSCs) worth a whopping USD 207 million.
The deals cover exploration areas in Palawan, Sulu, Cagayan, Cebu, and Central Luzon, and include a Philippine first: contracts for native hydrogen gas exploration.
“These service contracts represent our continued efforts to attain greater energy security, economic stability, and self-reliance,” Marcos said during the signing ceremony in Malacañang.
The President pointed out the urgency of the move, noting that almost all of the Philippines’ petroleum needs in 2024 — 99.68 percent — were imported.
“When global oil prices rise, it’s the ordinary Filipino who suffers,” he said.
Firsts in Philippine History
• The contracts mark several historic milestones:
• The largest batch of PSCs ever awarded.
• The first hydrogen exploration contracts, both in Central Luzon.
The first PSCs jointly managed with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), opening exploration in the Sulu Sea.
Marcos called the hydrogen deals “a signal of readiness to lead in sustainable innovation.”
Jobs, Investments, and Cleaner Energy
Energy Secretary Sharon Garin said the agreements would breathe new life into the country’s upstream energy sector, attract global investors, and support the shift to cleaner, sustainable power sources.
The Department of Energy explained that the exploration phase will span seven years, involving seismic and geological studies. Even before commercial production, contractors are required to fund local development projects in host communities.
Marcos assured investors that his administration is cutting red tape and offering incentives to speed up exploration.
“Progress must be achieved with integrity, responsibility, and respect for our people,” he stressed.
The 8 New Petroleum Service Contracts
1. PSC 80 – Sulu Sea Basin (PDA-BP-2)
Consortium: Triangle Energy (Global) Limited, Sunda Energy Plc., PXP Energy Corp., The Philodrill Corp.
2. PSC 81 – Sulu Sea Basin (PDA-BP-3)
Consortium: Triangle Energy, Sunda Energy, PXP Energy, The Philodrill Corp.
3. PSC 82 – Cagayan Basin (NA-11)
Operator: Triangle Energy (Global) Limited
4. PSC 83 – Central Luzon (PDA-PH-1) – Native hydrogen exploration
Operator: Koloma, Inc.
5. PSC 84 – Central Luzon (PDA-PH-2) – Native hydrogen exploration
Operator: Koloma, Inc.
6. PSC 85 – Visayan Basin (NA-12)
Operator: Gas 2 Grid Pte. Ltd.
7. PSC 86 – Northwest Palawan Basin (NA-10)
Consortium: The Philodrill Corp., Anglo Philippine Holdings Corp., PXP Energy, Forum Energy Philippines
8. PSC 87 – East Palawan Basin (PDA-3)
Operator: Ratio Petroleum Ltd. (Israel)
Securing the Future
Marcos wrapped up the event by calling the signing “a deliberate step towards securing the country’s energy future.”
“We want the Philippines to stand on its own — secure in its energy, strong in its economy, and steady in its commitment to future generations,” he said.
The deals cover exploration areas in Palawan, Sulu, Cagayan, Cebu, and Central Luzon, and include a Philippine first: contracts for native hydrogen gas exploration.
“These service contracts represent our continued efforts to attain greater energy security, economic stability, and self-reliance,” Marcos said during the signing ceremony in Malacañang.
The President pointed out the urgency of the move, noting that almost all of the Philippines’ petroleum needs in 2024 — 99.68 percent — were imported.
“When global oil prices rise, it’s the ordinary Filipino who suffers,” he said.
Firsts in Philippine History
• The contracts mark several historic milestones:
• The largest batch of PSCs ever awarded.
• The first hydrogen exploration contracts, both in Central Luzon.
The first PSCs jointly managed with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), opening exploration in the Sulu Sea.
Marcos called the hydrogen deals “a signal of readiness to lead in sustainable innovation.”
Jobs, Investments, and Cleaner Energy
Energy Secretary Sharon Garin said the agreements would breathe new life into the country’s upstream energy sector, attract global investors, and support the shift to cleaner, sustainable power sources.
The Department of Energy explained that the exploration phase will span seven years, involving seismic and geological studies. Even before commercial production, contractors are required to fund local development projects in host communities.
Marcos assured investors that his administration is cutting red tape and offering incentives to speed up exploration.
“Progress must be achieved with integrity, responsibility, and respect for our people,” he stressed.
The 8 New Petroleum Service Contracts
1. PSC 80 – Sulu Sea Basin (PDA-BP-2)
Consortium: Triangle Energy (Global) Limited, Sunda Energy Plc., PXP Energy Corp., The Philodrill Corp.
2. PSC 81 – Sulu Sea Basin (PDA-BP-3)
Consortium: Triangle Energy, Sunda Energy, PXP Energy, The Philodrill Corp.
3. PSC 82 – Cagayan Basin (NA-11)
Operator: Triangle Energy (Global) Limited
4. PSC 83 – Central Luzon (PDA-PH-1) – Native hydrogen exploration
Operator: Koloma, Inc.
5. PSC 84 – Central Luzon (PDA-PH-2) – Native hydrogen exploration
Operator: Koloma, Inc.
6. PSC 85 – Visayan Basin (NA-12)
Operator: Gas 2 Grid Pte. Ltd.
7. PSC 86 – Northwest Palawan Basin (NA-10)
Consortium: The Philodrill Corp., Anglo Philippine Holdings Corp., PXP Energy, Forum Energy Philippines
8. PSC 87 – East Palawan Basin (PDA-3)
Operator: Ratio Petroleum Ltd. (Israel)
Securing the Future
Marcos wrapped up the event by calling the signing “a deliberate step towards securing the country’s energy future.”
“We want the Philippines to stand on its own — secure in its energy, strong in its economy, and steady in its commitment to future generations,” he said.
Oct 8, 2025
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