Phl OKs $207-M Petroleum, Hydrogen Exploration Deals

President Ferdinand Marcos Jr. is seen [center] during the signing ceremony at Malacañang Palace in Manila, Philippines. Image: PCO.

Phl OKs $207-M Petroleum, Hydrogen Exploration Deals

By Wilma N. Yamzon, TheNationWeek.Com, October 9, 2025

MANILA, Philippines – President Ferdinand Marcos Jr. has unveiled eight new petroleum service contracts (PSCs) worth over $207 million to boost energy security and diversify sources.

The landmark agreement, announced on Wednesday (October 8, 2025), includes the country’s first foray into native hydrogen exploration toward a sustainable energy source.

The contracts, covering exploration areas spanning Palawan, Sulu, Cagayan, Cebu, and Central Luzon, represent the largest batch of PSCs awarded in the country’s history.

The initiative aims to reduce the Philippines’ heavy reliance on imported petroleum, which accounted for 99.68 percent of its needs in 2024.

“These service contracts represent our continued efforts to attain greater energy security, economic stability, and self-reliance,” President Marcos said during the signing ceremony in Malacañang.

He emphasized the vulnerability of ordinary Filipinos to fluctuations in global oil prices.

Beyond traditional oil and gas, the awarded contracts include two groundbreaking hydrogen exploration projects in Central Luzon, positioning the Philippines as a potential leader in this emerging field.

The agreements also mark a historic collaboration with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), with two PSCs jointly managed for exploration in the Sulu Sea.

Energy Secretary Sharon Garin highlighted the contracts’ potential to revitalize the upstream energy sector, attract international investment, and accelerate the country’s transition to cleaner energy sources.

The PSCs mandate exploration activities, including seismic studies, over a seven-year period, with contractors funding local development programs even before commercial production begins.

Marcos assured investors of streamlined processes and incentives to encourage responsible exploration, emphasizing the importance of integrity and respect for local communities.

The contracts awarded are:

PSC 80 & 81:

• Sulu Sea Basin (Triangle Energy (Global) Limited, Sunda Energy Plc., PXP Energy Corp., The Philodrill Corporation)

PSC 82:

• Cagayan Basin (Triangle Energy (Global) Limited)

PSC 83 & 84:

• Central Luzon (Koloma, Inc. – native hydrogen exploration)

PSC 85:

• Visayan Basin (Gas 2 Grid Pte. Ltd.)

PSC 86:

• Northwest Palawan Basin (The Philodrill Corporation, Anglo Philippine Holdings Corp., PXP Energy Corporation, Forum Energy Philippines)

PSC 87:

• East Palawan Basin (Ratio Petroleum Ltd. of Israel)

President Marcos affirmed that these contracts represent “a deliberate step toward securing the country’s energy future,” ensuring the Philippines “stands on its own — secure in its energy, strong in its economy, and steady in its commitment to future generations.”