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HomeNationPangandaman lauds DOE-BARMM deal on energy exploration

Pangandaman lauds DOE-BARMM deal on energy exploration

Department of Budget and Management (DBM) Secretary Amenah F. Pangamdaman has lauded the milestone agreement between the Department of Energy (DOE) and the Bangsamoro’s Ministry of Environment, Natural Resources, and Energy (MENRE), aiming to establish BARMM as another energy resource hub in the country.

President Ferdinand R. Marcos Jr. officiated over the ceremonial signing of a Joint Circular prescribing guidelines for both Petroleum Service Contracts (PSCs) and Coal Operating Contracts (COCs) within BARMM. He holds the conviction that this significant step will pave the way to access and leverage the extensive and yet untapped resources of the Bangsamoro region.

“By harnessing the enormous energy potential within BARMM, we will reduce our reliance on external sources, mitigate the detrimental impacts of price fluctuations, and build a solid foundation for our country’s energy security,” President Marcos said.

“Through the responsible and innovative utilization of abundant resources, we are determined to ignite profound and positive changes in the lives of our people, especially our sisters and brothers in the BARMM,” the President added.

For her part, Secretary Pangandaman, the lone Muslim member of the PBBM Administration’s Cabinet, said the agreement was not just a remarkable achievement, but a necessary advancement in the ongoing collaboration between the national government and BARMM.

“The Joint Circular agreement between DOE and MENRE exemplifies a significant step towards sustainability and prosperity for BARMM,” said Secretary Pangandaman.

Further, the Budget Secretary assured the BARMM of continuous support from the DBM and the national government, particularly throughout its transition process.

“Makakaasa po kayo, tulad po ng aming pangako, na laging aagapay ang DBM at national government sa BARMM, lalo na sa transition process nito,” she emphasized.

The said agreement implements a measure in the Bangsamoro Organic Law, which allows for joint rights to explore, develop, and utilize fossil fuels within the Bangsamoro territory.

The framework laid out in the agreement also sets the requirements, procedures, and standards for firms interested in operating petroleum and coal contracts in the region. Moreover, it ensures that all exploration and development activities will adhere to stringent regulatory guidelines, following best practices in the industry. The aim is to ensure ethical and environmentally conscious operations, aligning with the broader goals of national development. (PR/DBM)

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