October 10, 2025 · President Ferdinand R. Marcos Jr. unveiled eight new Petroleum Service Contracts (PSCs) to explore areas across the Sulu Sea, Cagayan, Cebu, Northwest Palawan, East Palawan, and Central Luzon for potential energy sources. This is the largest batch of PSCs awarded in a single period in Philippine history, including the world’s first competitive bid round for native hydrogen.
Collectively, the contracts represent a potential investment commitment of around $65.7 million over a seven-year exploration period. With these PSCs, service contractors can now commence geological and geophysical studies, seismic surveys, and drilling activities as appropriate, while ensuring strict adherence to environmental and safety standards.
The Department of Energy (DOE) also unveiled the full list of PSCs signed by the President and the respective private sector partners, which the Department assured were vetted through a transparent and competitive selection process under the Philippine Conventional Energy Contracting Program (PCECP).
- PSC Nos. 80 and 81 were awarded to a consortium composed of Triangle Energy (Global) Limited, an Australian company; Sunda Energy Plc, registered in the United Kingdom; and Philippine-based firms PXP Energy Corporation and The Philodrill Corporation. Co-managed by the DOE and the Ministry of Environment, Natural Resources, and Energy of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM-MENRE), these SCs aim to revitalize petroleum exploration in the southern Sulu Sea, generating new economic and employment opportunities for communities across BARMM and Mindanao. SC 80 covers approximately 760,000 hectares, while SC 81 spans about 532,000 hectares.
- PSC No. 82, located in Cagayan basin and has an area of 480,000 hectares, was awarded to Triangle Energy (Global) Limited.
- PSC Nos. 83 and 84, both for native hydrogen exploration in Central Luzon, were awarded to Koloma, Inc., a company based in the United States. SC 83 covers 126,645 hectares while SC 84 covers 85,082 hectares.
- PSC No. 85, covering 127,475 hectares in onshore Cebu, was awarded to Gas 2 Grid Pte. Ltd.
- PSC No. 86, awarded to consortium of Filipino companies composed of The Philodrill Corporation, Anglo Philippine Holdings Corporation, PXP Energy Corporation, and Forum Energy Philippines Corporation, covers 132,000 hectares in the Northwest Palawan Basin.
- PSC No. 87, located in the East Palawan Basin, was awarded to Ratio Petroleum Ltd. of Israel. This marks the company’s second petroleum service contract in the Philippines, following PSC 76, also situated in the East Palawan Basin, where Ratio successfully conducted a 3D seismic survey last year as part of its ongoing exploration activities.
