Philippine
National Oil Company (PNOC) is a government-owned and
controlled company which is engaged in exploration, exploitation and
development of all energy resources. PNOC EC, a
subsidiary of PNOC, is either the operator or partner in eight petroleum
service contracts covering an aggregate area of 57,630 km2,
currently the largest exploration acreage holding in the Philippine oil and gas
sector. Malampaya gas field, which provides almost 40% of the country’s power
source, was its biggest project and it’s planning to set up LNG facilities to
prepare of the depletion of Malampaya.