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Follow on Google News | UPSTREAM 2012 Philippines: Oil and Gas, Coal, and GeothermalIn November this year, UPSTREAM Energy will be launched in cooperation with the ASEAN Council on Petroleum (ASCOPE) and with the Department of Energy to support its aggressive Philippine Energy Contracting Round for Coal, Oil and Gas Investments.
By: www.inquirer.net/ Government sees banner year for upstream oil industry The Department of Energy expects a banner year for the upstream oil industry as the existing petroleum service contract holders have committed to drill a record 10 to 12 oil and gas exploration wells for 2012 alone, according to Energy Undersecretary Jose M. Layug Jr. “We have seen an upturn in investments in the Philippine upstream petroleum industry this year as a result of the current high oil price market condition and the efforts of the DOE to revitalize the industry,” Usec. Layug noted. “We have launched the Philippine Energy Contracting Round 4 (PECR 4) for petroleum last year and formed the Philippine Upstream Petroleum Task Force under Executive Order No. 60. The Aquino administration, through the DOE, has focused on resource development as a long-term plan of action in the hopes of finding indigenous oil and gas resources to reduce our dependence on imported petroleum and mitigate the effects of oil price volatility,” The PECR 4, which was launched last June 30, 2011, is envisioned to address the Philippines’ According to the DOE, it expected at least $7.5 billion worth of initial investments to be infused in the local oil and gas sector over the next several years if all the 15 contracts were to be awarded to investors. Excerpt from the article: Exploration firms to drill 10-12 wells in 2012, The Philippine Daily Inquirer ------------------------------------------------------------ UPSTREAM Energy 2012 international exhibition and conference is being organized in cooperation with the Department of Energy and the ASEAN Council on Petroleum (ASCOPE) to support the Philippine Energy Contracting Round for Oil, Gas, and Coal Investments. The project is endorsed by the Petroleum Association of the Philippines and the Philippine Chamber of Coal Mines, the major supporting industry organizations for this event. UPSTREAM Energy 2012 focuses on oil, gas, coal, and geothermal exploration and production. It will be held on November 14-16, 2012 at the SMX Convention Center. The international exhibition will gather under one roof the local industry players, their international counterparts, government, international funding agencies, operators, developers, and suppliers of equipment, technologies and services for the oil, gas, coal, and geothermal exploration and production. The theme for the conference is “Accelerating Upstream Energy Development for Energy Security.” The tentative agenda covers: • Overview: • Policy, Regulatory Issues, Privatization Concerns and Incentives • Business Opportunities • Sharing of Experiences/ • Financing of Projects • The Latest Technologies For more information about the event, Please visit the event's website at: http://upstreamenergy.leverageinternational.com Please contact our Secretariat for further information on Sponsorship Packages, Exhibition (Early-Bird Discounts) and Conference rates. The Secretariat, Upstream Energy 2012 Leverage International (Consultants) 8/F Legaspi Suites,178 Salcedo Street Legaspi Village, Makati City 1229, Philippines Tel. (632) 818-6828; 810-1389 Fax (632) 810-1594 E-mail: leverage@leverageinternational.com Website: http://www.leverageinternational.com End
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