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PXP Energy continues Galoc field operations
The Philippine Star
|January 07, 2026
Tycoon Manuel V. Pangilinan's PXP Energy Corp. has obtained government approval to continue operating the Galoc oil field off northwest Palawan.
In a stock exchange filing yesterday, PXP said the Galoc field consortium received Petroleum Service Contract 88 from the Department of Energy following the expiration of its previous contract.
SC 88, which covers the former SC 14C-1 Galoc field that expired last Dec. 17, allows the consortium to continue petroleum operations and recover the remaining reserves in the area.
Executed on Dec. 18, the new contract encompasses an offshore area of approximately 83,450 hectares in the northwest Palawan basin.
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