THE state-run Philippine National Oil Co.-Exploration Corp. (PNOC-EC) is looking to help bolster the country’s energy supplies by embarking on several extensive coal, oil and gas explorations activities this year.
In a disclosure to the Philippine Stock Exchange, Gemiliano Lopez Jr., PNOC-EC chairman and chief executive, said the exploration and development activities do not include the existing and already planned projects for this year.
Lopez said their vision is to help bolster the country’s energy supplies from indigenous resources.
“We will pursue more vigorously our mandate to fully support the government’s economic development programs to accelerate national and regional economic growth, promote more employment opportunities and improve the living standards of our people,” Lopez said.
PNOC-EC remains committed this year to drill for Service Contracts 37 and 63 in the Cagayan Basin and Southwest Palawan, respectively, the Department of Energy said.
In another development, PNOC-EC has created three separate and independent bids and awards committees (BACs) to handle its increasing number of procurement activities.
PNOC-EC said its board of directors approved Lopez’s proposal to create three separate BACs to ensure transparency, competitiveness, honesty and integrity in the company’s procurement process in accordance with the rules and regulations of the Government Procurement Reform Act.
PNOC-EC explained that it will hold the bidding through the three BACs via drawing of lots, which is almost similar to the system in use by courts of law when raffling off cases. With more than one BAC, the volume of work will more evenly spread.
PNOC-EC said this random drawing of lots should ensure a more competitive and transparent process that will allow PNOC-EC to get the best price for the best quality available for procured equipment and supplies.
Lopez explained that the creation of the three BACs will ensure faster and more efficient processing of PNOC-EC’s growing number of procurement requirements.
In proposing the creation of three BACs, Lopez cited the rules and regulations of Government Procurement Reform Act, saying that the head of the procurement entity may create separate BACs where the number and complexity of the items to be procured shall so warrant. Similar committees for decentralized and lower level offices may also be formed when deemed necessary by the head of the procuring entity.
“Our initiative here may also become an example that other government-owned and -controlled corporations, government institutions and local government units wish to follow,” Lopez said.
In 2011, PNOC-EC declared a cash dividend of more than P5 billion to the national government from its revenues from the production, development and exploration of indigenous coal, oil and gas resources for domestic use. At present, the government owns 99.71 percent of PNOC-EC shares, while the public owns 0.29 percent.
