PHILIPPINESExecutive Order No. 80, rationalizing the rules for the engagement of third-party participants under Petroleum Service ContractsExecutive Order No. ("EO") 80, signed by President Rodrigo Duterte on 28 May 2019, amended EO No. 556 (series of 2006) which previously prohibited the Philippine National Oil Company ("PNOC") from awarding farm-in and farm-out agreements for oil exploration, development and production.
Under EO 80, the rules for government dealings with third-party participants under petroleum service contracts allows more groups to explore possible fuel deposits in the country, subject to the requirement that PNOC Exploration Corporation enter into such agreements only with reputable, technically competent and financially capable entities.