28 May 2024, PERTH – Undersecretary Alessandro Sales of the Philippine Department of Energy (DOE) and Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) Minister for Environment, Natural Resources and Energy Akmad Brahim pitched investment opportunities in the Philippines’ upstream petroleum industry to Australian businesses in an Energy Market and Trade Showcase organized by the Australia Philippines Business Council in Perth on 21 May 2024.

Undersecretary Sales discussed the energy landscape and potential of the Philippines, including opportunities for oil, natural gas and native hydrogen exploration in Palawan, Cebu and the BARMM. He shared the new and upcoming government issuances that would attract more exploration and production companies and investors such as making previously restricted energy data freely accessible, a circular facilitating the exploration of native hydrogen and other fiscal incentives.

In February 2024, the DOE launched the 2024 Philippine Bid Round, initiating a government-led process inviting oil and gas companies to participate in competitive bidding for the right to explore and develop specific acreage within the country. Together with the BARMM Ministry for Environment, Natural Resources and Energy, they also launched the 1st Conventional Energy Bid Round for BARMM.

BARMM Minister Brahim underscored that the BARMM is open for business and is prepared to explore, develop and utilize its petroleum, gas and coal resources jointly with the Philippine National Government. Alongside these efforts, the BARMM is also committed to promoting renewable energy. Minister Brahim emphasized the significant progress of the BARMM through the decades especially in ensuring lasting peace and security achieved through negotiations and strong partnerships with the Philippine government.

In her welcome remarks, Philippine Ambassador to Australia H.E. Ma. Hellen B. De La Vega expressed gratitude for Australia's substantial development assistance in peace-building and capacity-building efforts in the BARMM. She encouraged businesses to invest in the region, affirming that economic security and prosperity are closely tied to a peaceful and secure BARMM.

The showcase also featured presentations from APBC President Rafael Toda on activities of the APBC, Department of Foreign Affairs and Trade WA Deputy State Director Kelly Tranter and Austrade WA State Director Jane Caforio on Australia’s commitments and efforts to tackle climate change and the Southeast Asia Economic Strategy to 2040, and S and P Global Commodity Insights Executive Director Antonio Dimabuyu.

The DOE and BARMM, joined by representatives from the Philippine National Oil Company (PNOC), are conducting an upstream conventional energy roadshow in Perth, WA from 18-25 May 2024 and are engaging potential investors. The delegation also participated in the Australian Energy Producers (APPEA) Conference and Exhibition at the Perth Convention and Exhibition Centre on 20-23 May 2024.

Interested parties in the 2024 Philippine Bid Round and the 1st Conventional Energy Bid Round for BARMM may find more information on the DOE website at https://doe.gov.ph/pcecp/data-listings-2024-philippine-bid-round or by contacting the DOE at pcecp.prdd@doe.gov.ph.

The inaugural visit of the BARMM to Australia coincides with the celebration of Philippine-Australia Friendship Day which is observed every 22nd of May. – END