Global Companies Eye Hydrogen Exploration Opportunities in the Philippines
Key Ideas
- Companies from Australia, Europe, and North America express significant interest in hydrogen exploration in the Philippines following the issuance of bidding notices.
- The Department of Energy in the Philippines opened bid rounds for Pre-Determined Areas in Zambales province for hydrogen exploration, alongside coal, petroleum, and native hydrogen exploration in other regions.
- The government aims to promote the development of native hydrogen as a transition fuel towards a higher ratio of renewable energy sources in the national power mix.
- Previous petroleum exploration in the Cotabato Basin has shown promising results, with wells drilled in the early 20th century displaying oil and gas shows.
Several companies from major regions like Australia, Europe, and North America have shown keen interest in exploring hydrogen opportunities in the Philippines. Energy Undersecretary Alessandro Sales highlighted the positive response during a recent press briefing, noting the surge in interest following the issuance of bidding notices for hydrogen exploration areas. The Department of Energy opened bid rounds for hydrogen exploration in Zambales province, alongside opportunities for coal, petroleum, and native hydrogen exploration in other regions like the Bangsamoro Autonomous Region in Muslim Mindanao. The government's focus on promoting native hydrogen as a transitional fuel aligns with efforts to increase the share of renewable energy sources in the country's energy mix. The history of petroleum exploration in areas like the Cotabato Basin, with several wells showing oil and gas presence, adds to the optimistic outlook for future energy endeavors in the Philippines.
Topics
Europe
Energy Exploration
Gas Exploration
Bidding Process
Renewable Energy Transition
International Interest
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