BALI – The Philippine National Oil Company (PNOC) actively participated in the 2024 ASCOPE 8th Mid-Year Task Force Meeting held in Bali, Indonesia from May 27-30. Hosted by Pertamina, the event focused on enhancing ASEAN energy connectivity and resilience amidst the evolving global energy landscape.

In his remarks, PNOC President and CEO Oliver B. Butalid highlighted the company’s new strategic mandate to transition from asset management to playing a pivotal role in strategic niches with government support. “We are repositioning PNOC to accelerate the development of critical infrastructure, particularly in offshore wind energy integration and LNG distribution,” Butalid stated.

Butalid outlined PNOC’s commitment to developing offshore wind infrastructure, noting that the Department of Energy (DOE) has awarded service contracts for 80 GW of offshore wind capacity involving 40 international players. He emphasized that the first batch of turbines, to be integrated with ten identified ports, is slated for deployment by 2028. “PNOC is spearheading the development of these ports, which are integral to our renewable energy goals,” he said.

Addressing the impending depletion of the Malampaya gas field, Butalid underscored the importance of promoting LNG. “With Malampaya’s reserves expected to run out in the next 3-4 years, PNOC will invest in a third LNG terminal and explore distribution opportunities in the US, China, Europe, and among ASCOPE member countries,” he added.

Butalid also spoke on the broader energy challenges facing the Philippines, including the need for improved energy transition strategies by 2030. “Our growth trajectory is promising, but the recent energy outages highlight the urgency of finding new business models to reduce electricity costs and integrate emerging technologies,” he said.

Pertamina’s President Director, Nicke Widyawati, opened the meeting by emphasizing the importance of collaboration to address energy security, affordability, and environmental sustainability. ASCOPE Secretary-In-Charge, Dr. Tran Hong Nam, echoed these sentiments, highlighting the role of ASCOPE in fostering knowledge exchange and collaborative initiatives across ASEAN.

The event, supported by Indonesia’s Ministry of Energy and Mineral Resources, featured presentations on energy transition opportunities in ASEAN and discussions on the ASEAN Plan of Action for Energy Cooperation (APAEC) post-2025. PNOC’s active participation in this meeting underscores its commitment to regional cooperation and advancing the Philippines’ energy infrastructure development.