Executive Order No. 556
AMENDING
EXECUTIVE
ORDER NO. 473 AND REQUIRING THE EXPLORATION, DEVELOPMENT AND PRODUCTION OF
CRUDE OIL FROM THE CAMAGO-MALAMPAYA RESERVOIR TO BE UNDERTAKEN THROUGH BIDDING
WHEREAS,
Executive Order No. 473 tasked the
Department of Energy (DOE) to pursue the
immediate exploration, development and production of crude oil from the
Camago-Malampaya Reservoir;
WHEREAS,
transparency is a government policy;
WHEREAS,
it is government policy to bid out projects unless only one qualified bidder
emerges from a published invitation to bid;
NOW, THEREFORE, I, GLORIA MACAPAGAL-ARROYO, President of the
SECTION 1. There shall be no
“farm-in” or “farm-out” contracts awarded by any government agency, including
the
Philippine National Oil Company (PNOC),
including the contract for the exploration, development and production of crude
oil from the Camago-Malampaya Reservoir.
SEC. 2. All government
agencies, including the
PNOC, shall
follow a strict bidding procedure in forging partnership with interested
parties, including the Camago-Malampaya Reservoir venture.
SEC. 3. The corporate identity
and of any partner tapped by any government agency, including the
PNOC, must be beyond question.
SEC. 4. The paid-up capital of
any partner tapped by any government agency, including the
PNOC, must clearly show financial capability
to undertake the subject venture;
SEC. 5. No government agency, including the
PNOC, may enter into a contract with a
company registered in a jurisdiction know to be a haven for money laundering;
SEC. 6. All government agencies, including the
PNOC, may award a contract, including the
Camago-Malamapaya Reservoir venture, only to a true principal group and not to
a trader/broker.
SEC. 7. Any and all negotiations or arrangements
entered into by any government agency, including the
PNOC, which violate this Executive Order,
shall be immediately discontinued or cancelled.
SEC. 8. All other executive
issuances, rules and regulations or parts thereof, including
Executive
Order 473, which are inconsistent with the provisions of this Executive
Order are hereby repealed, amended or modified accordingly.
SEC. 9. This Executive Order shall take effect
immediately following its publication in the Official Gazette or in a newspaper of general circulation.
Done in the City of
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