Subsidiaries
PNOC Exploration Corporation

(Updated August 1, 2016)

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 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 oeprator 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.

NATURE OF OPERATIONS:

Exploration, development, utilization, and marketing of oil and gas and other viable energy resources.

DATE OF INCORPORATION:

April 20, 1976

VISION:

We are the leading oil and gas company in the Philippines with global reach in exploration and production, contributing to the company's growth and development.

MISSION:

We are an enterprise, whose core business is petroleum, committed to the delivery of superior economic benefits to our stakeholders through top performance in all our undertakings.

VALUES

Teamwork. We value teamwork. Our employees and stakeholders work together harmoniously toward common goals.

Integrity. We strictly adhere to ethical and moral standards of fairness and honesty in all our undertakings.

People Orientation. We value the welfare and growth of our employees as well as the interest of our host communities. We actively seek social acceptance of our projects.

Innovativeness. We encourage creativity and continuous improvement in the conduct of our business.

Customer-driven. We perform with a high level of efficiency geared towards customer satisfaction.

Concern for the environment. We properly manage the impacts of our operations to the environment. We adhere to the principles of sustainable development; balancing ecological, social and economic sustainability of our projects.

Safety and Well Being. We conduct our business in a safe manner, thereby protecting the well-being of our employees and stakeholders.

BOARD OF DIRECTORS:

Chairman
                Gemiliano C. Lopez, Jr.


President and CEO
Pedro A. Aquino, Jr.

Members:

                Rufino B. Bomasang
                Leopoldo E. Petilla
                Fernando V. Barreiro
                Ralph Pastor A. Salazar
                Joseph L. Emnas
                Fernando L. Zulueta
                Rafael M. Iriarte
               

Corporate Secretary:

Atty. Jose C. Sta Ana

 

EXECUTIVE OFFICERS:

             President and CEO
             Pedro A. Aquino, Jr.
 

Vice President for Upstream Operations Division
Raymundo B. Savella
   

             Vice President for Management Services Division
             Lourdes S. Gelacio
   

             Vice President for Corporate Services
             Manuel C. Mendoza


             Vice President for
Downstream Operations Division            
             Candido M. Magsombol


             General Counsel
(concurrently functions as Corporate Secretary and Compliance Officer)
             Jose C. Sta. Ana