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Time to 'explore, explore, explore' for energy, DOE chief tells investors

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ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img src="https://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/12/04/20180521-alegria-oil-field-mnib-10.jpg"/><figcaption>President Rodrigo Duterte confers with Energy Secretary Alfonso Cusi on the sidelines of an oil and gas field opening in Alegria, Cebu on May 19, 2018. Karl Norman Alonzo, Malacanang Photo</figcaption></figure></div>MANILA -- The Department of Energy on Tuesday urged investors to &quot;explore, explore, explore&quot; to help the country build its power supply.Investors who are interested in areas other than the 14 identified by the DOE can &quot;nominate&quot; them to the government and &quot;we will process it accordingly,&quot; Energy Sec. Alfonso Cusi said.&quot;President Rodrigo Duterte has directed us to &#x27;build build build.&#x27; In our race to attain energy security and self-sufficiency the DOE builds on this same momentum: Let us &#x27;explore, explore, explore&#x27;&quot; he said.&quot;Investors are now welcome to explore, explore explore the 14 pre-determined areas identified by the DOE,&quot; he said. Cusi&#x27;s audience included PXP Energy, which is seeking talks with China National Offshore Oil Co. PXP Energy has rights to explore service contract 72 in the South China Sea.The Philippines needs partners in &quot;energy infrastructure and exploration,&quot; Cusi said, adding the country would need 43,765 megawatts of additional capacity by 2040.&quot;Energy opportunities in the Philippines abound,&quot; he said.Manila and Beijing <a href="https://news.abs-cbn.com/business/11/22/18/manila-beijing-oil-and-gas-deal-an-agreement-to-agree-says-locsin">agreed to forge an deal</a> on oil and gas during Chinese President Xi Jinping&#x27;s state visit to Manila in late November.Potential joint exploration between the Philippines and China under the Aquino administration failed to take off due to disputes in the South China Sea. Aquino won a case before a UN-backed arbitration court, which invalidated Beijing&#x27;s claims.President Rodrigo Duterte refused to flaunt the ruling, which was handed down just a a few months after he assumed office in 2016. He also sought <a href="https://news.abs-cbn.com/news/10/20/16/duterte-heralds-springtime-in-ties-with-china">closer economic and diplomatic ties</a> with China.

Investors who are interested in areas other than the 14 identified by the DOE can "nominate" them to the government and "we will process it accordingly," Energy Sec. Alfonso Cusi said.

Investors who are interested in areas other than the 14 identified by the DOE can "nominate" them to the government and "we will process it accordingly," Energy Sec. Alfonso Cusi said.