PNOC Exploration Corporation (PNOC EC) is the upstream oil, gas and coal subsidiary of the state-owned Philippine National Oil Company (PNOC). Initially starting out as the Exploration Department of PNOC in April 1975, PNOC EC was eventually incorporated as a PNOC subsidiary and registered with the Philippine Securities and Exchange Commission on April 20, 1976. PNOC EC’s shares of stock are 99.79% owned by the Philippine government through PNOC, with the remaining 0.21% held by public shareholders.
PNOC EC currently holds interests in eight petroleum Service Contract (SC) areas, namely SC 37 (Cagayan), SC 38 (Malampaya), SC 43 (Ragay Gulf), SC 47 (Offshore Mindoro), SC 57 (Calamian), SC 58 (West Calamian), SC 59 (West Balabac) and SC 63 (East Sabina). The SC 38 acreage is in the production phase, while the rest are exploration blocks. PNOC EC also holds the rights for the development of the Camago Malampaya Oil Leg (CMOL) Project in offshore Northwest Palawan under the Terms of Service entered into with the DOE in March 2006.
The Company is also taking the lead in the implementation of downstream natural gas infrastructure projects such as the Batangas to Manila Natural Gas Pipeline, and the Integrated Bataan Liquefied Natural Gas (LNG) Terminal, Power Plant and Natural Gas and Pipeline Projects.
Aside from petroleum, PNOC EC is also engaged in their coal business. The company holds Coal Operating Contracts in various parts of the country, namely COC 41 and COC 152 (Siay) in Zamboanga Sibugay, COC 122 and 141 in Isabela and COC 140 in Surigao del Sur. PNOC EC also operates coal terminals in Zamboanga Sibugay, Cebu, Batangas, and North Harbor, which serve as its handling facility for local as well as imported coal that the Company supplies to power plants and cement factories in the Philippines.
PNOC EC also owns a private commercial port – the Energy Supply Base (ESB) located in Mabini, Batangas which offers berthing, cargo handling, storage and warehousing facilities to energy companies and other commercial clients.
