PNOC Exploration Corporation is the upstream oil, gas and coal subsidiary of the state-owned Philippine National Oil Company. A government owned and controlled corporation, the Company was incorporated on 20 April 1976 and is mandated by the government through the Department of Energy (DOE) to take the lead in exploration, development and production of the country?s oil, gas and coal resources. The Company was listed in the Makati Stock Exchange and the Manila Stock Exchange in 1976 and 1977, respectively. At present, PNOC EC has seven (7) petroleum Service Contracts (SCs), namely: SC 37 (Cagayan Basin), SC 75 (Northwest Palawan), SC 47 (Offshore Mindoro), SC 57 (Calamian), SC 58 (West Calamian), SC 59 (West Balabac) and SC 63 (East Sabina). The Company is the operator in SC 37, SC 47 and SC 63 and a non-operating partner in SC 38, SC 57, SC 58 and SC 59. PNOC EC used to operate the very first natural gas facility in the country- the San Antonio Gas Power Plant within SC 37 before joining the Malampaya consortium (SC 38) in 1999 with a 10% stake. Malampaya is the country?s single biggest investment of its kind. PNOC EC also holds seven (6) Coal Operating Contracts (COCs), namely: COC 41 (Malangas), COC 141 (Isabela), COC 184 (Agusan del Sur), COC 185 (Zamboanga Sibugay) and COC 186 (Zamboanga Sibugay). As part of its coal business, the company also trades coal from other sources through its two (2) coal terminals located in Malangas, and Cebu. The company likewise owns and operates a private commercial port ? the Energy Supply Base (ESB) ? in Mabini, Batangas which provides berthing, cargo handling, storage and warehousing facilities to its clients.
Sector: Oil & Energy