Marcos: New Petroleum Service Contracts to Attract Foreign Energy Investors

President Ferdinand Marcos Jr. speaks before local and foreign investors at Malacañang on Wednesday, October 8, 2025.

Marcos: New Petroleum Service Contracts to Attract Foreign Energy Investors

By Bing Jabadan – TheNationWeek.Com | October 8, 2025

MALACANANG, Philippines – President Ferdinand Marcos Jr. has expressed optimism that the newly signed petroleum service contracts (PSCs) will attract significant investments, bolstering efforts to discover and develop indigenous energy resources.

Speaking at a formal presentation of PSCs at Malacañang Palace on Wednesday (October 8, 2025), the President declared his administration’s commitment to fostering a business-friendly environment for the energy sector.

“This administration continues to find practical and sustainable ways to attract more investments in the energy sector,” he said.

Eight new PSCs are designed to stimulate exploration for petroleum resources, including hydrogen, with the aim of enhancing energy security, creating wealth, and generating employment opportunities.

The President highlighted the potential for the agreements to draw international partners eager to participate in the Philippines’ energy future.

“Consequently, these efforts will capture the interest of more international partners to invest in our country and join our quest to discover new indigenous resources,” he said.

He stressed the importance of responsible development, adding that “with every partnership comes a greater challenge to ensure that progress is achieved with integrity, responsibility, and respect for our people.”

The government has implemented measures to further incentivize investment.

In September, the Department of Energy issued a circular granting special allowances to petroleum service contractors to encourage petroleum exploration in new areas, promote gas development in remote regions, and ensure fair cost recovery.

Marcos pointed to the Energy Virtual One Stop Shop platform as a key initiative to streamline the energy permitting process.

“Through the Energy Virtual One Stop Shop platform, we are streamlining the energy permitting process. This way, we hope to cut red tape, eradicate bureaucratic delays, and reduce unnecessary paperwork,” he said.

Marcos affirmed the government’s dedication to continuously improving business processes to better serve the needs of both investors and local communities.

He urged investors to prioritize accountability, environmental stewardship, and fairness in their operations.

“Operate with accountability, with respect for the environment, and fairness toward the communities that host your operations,” Marcos told businessmen.

“Let us prove that responsible enterprise and national development can go hand-in-hand — that growth built on transparency and responsibility is growth that will last.”