PNOC Exploration Corporation (PNOC EC) is the upstream oil and gas 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 99.78% owned by the Philippine government through PNOC, with the remaining 0.22% held by public shareholders.

In its early years, PNOC EC served mainly as a catalyst in petroleum exploration, focusing its activities in frontier onshore areas in Cagayan Valley, Central Luzon and Samar. PNOC EC’s efforts resulted to a gas discovery well, San Antonio-1 and a well with gas shows, Rizal-2, both in Isabela province.

By the early 1980s, PNOC EC became a key promoter of domestic petroleum exploration, with its campaign to market its exploration blocks and invite local and international companies to become partners. The Company, together with its partners, continued its exploration efforts in onshore Mindoro, Isabela, Cagayan, Cebu and Cotabato. PNOC EC’s efforts yielded one oil well in Cebu (South Cebu-2), a gas well in Isabela (San Antonio-1A) and another well with gas shows in Cagayan (Nassiping-2).

In 1994, PNOC EC’s 3-Megawatt San Antonio Gas Power Plant (SAGPP) in Echague, Isabela was commissioned, providing electricity to more than 10,000 households. The operation of SAGPP made PNOC EC the country’s first producer of indigenous natural gas.

Encouraged by its successes, PNOC EC started to take bold moves in the 1990s by expanding its operations in the offshore areas of Northern Palawan, Ragay Gulf and offshore Mindoro. It was during this period that the Company became either a lead operator or a partner in petroleum exploration joint ventures with local and foreign companies. The Company and its partners’ exploration efforts in various petroleum basins eventually led to an oil discovery in Antique (Maniguin-2), a gas discovery in Maguindanao (Tukanakuden-1), two successful gas flows also in Maguindanao (Sultan Sa Barongis 1 and 2), and a well with gas shows in Tarlac (Victoria-3).

Today, PNOC EC remains at the forefront of the energy industry with business interests in oil and gas exploration and production, natural gas business, coal exploration and production, coal marketing and trading as well as port and warehousing operations.