MANILA, Philippines- The Department of Energy is set to award three geothermal contracts on Thursday.
Energy Secretary Angelo Reyes said the three companies that will be awarded the contracts were the Guidance Management Corp., which bagged the contract for the Compostela Valley; the Biliran Geothermal Inc., which secured the contract for the Biliran project; and Basic Energy Corp., which will explore the Mabini project.
The projects cover the areas of Amacan in Compostela Valley, Biliran and Mabini, Batangas.
Reyes said the awarding of the geothermal contracts aims to boost the country’s energy sources.
Last May the DOE awarded five petroleum exploration service contracts to four Filipino oil exploration companies.
The companies that were given the exploration contracts were Miocene Mining and Energy Corp., Helios Petroleum and Gas Corp., Burgundy Global Exploration Corp., and NorAsian Energy Limited.GMANews.tv
Source: http://www.gmanetwork.com/news/story/105988/economy/doe-set-to-award-geothermal-contracts
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