SGV attends DoE briefing on upstream oil industry

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SGV’s Oil and Gas Industry Group recently attended a briefing on the upstream oil industry facilitated by the Petroleum Resources Development Division of the Department of Energy (DoE).

Petroleum Engineering Section Chief Mr. Redentor Pascual, together with Senior Science Research Specialists Ms. Christine Gotera and Mr. Dan Montealegre discussed the background of the upstream process from the formation of oil and gas deposits to the extraction methods and until the abandonment of wells. The active exploration and production service contracts in the Philippines and the risks faced by the industry players, which include the territorial dispute in the West Philippine Sea, were also discussed in the briefing.

Contracts & Negotiation Division Chief Atty. Ben Gagni and Compliance Division Financial Analyst Ms. Flordeliz Diaz discussed the relevant legal and financial requirements of DoE on companies that are bidding for petroleum service contracts.

Assurance partner Alice Lu heads the Oil and Gas Industry Group. Other members of the team are Assurance managers Jo Agudo, Bonnie Wong, Rexell Egano, Jon Natividad, Arthur Maddalora, Jay Enriquez, Frank Batalon, Karen Magos and Jenny Villacrusis. Senior associates Naya Longat, Joma Cagampan, Regine Tagaylo, Jeanette Galang, Joselito Tecson and Rex Baluyos also attended the event.