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Petroleum

Energy Sector Developments in Asia: February 18, 1999

Strategic Insights

— 1 min read

The energy sector in Asia continued to make significant developments in February 1999, with various news outlets reporting on key initiatives, contracts, and privatisation efforts. In the Philippines, the National Power Corporation (NPC) defended adjustments made to the build-rehabilitate-operate (BRO) contract for the Caliraya-Botocan-Kalayaan hydroelectric power complex, citing benefits to both the NPC and the consuming public. Meanwhile, the Petroleum Association of Japan formulated a model contingency plan to address the potential risks of the Y2K computer glitch, and the Philippine National Oil Company-Energy Development Corp. (PNOC-EDC) secured a contract to supply geothermal drilling services in Papua New Guinea. Woodside Petroleum Ltd, Shell, and Chevron also collaborated on a proposal to establish a private agency to market Australian LNG product to overseas customers.

Key Takeaways:

  • The National Power Corporation (NPC) in the Philippines defended adjustments made to the build-rehabilitate-operate (BRO) contract for the Caliraya-Botocan-Kalayaan hydroelectric power complex, stating that these amendments will benefit both the NPC and the consuming public.
  • The Philippines will not experience a power shortage due to the delay in the full awarding of the power project contract to an Argentine-based power contractor, according to the National Power Corporation.
  • The Philippine National Oil Company-Energy Development Corp. (PNOC-EDC) won an international bid for a one-year contract to supply geothermal drilling services in Papua New Guinea, valued at US$8.5 million.
  • Woodside Petroleum Ltd, Shell, and Chevron collaborated on a proposal to establish a private agency to market Australian LNG product to overseas customers, excluding Japan.
  • The Petroleum Association of Japan formed a model contingency plan to address potential risks caused by the Y2K computer glitch.
  • The Philippine Oil Company's bid for a portion of the Papua New Guinea's geothermal project was not mentioned.

Statistics:

  • US$8.5 million: The value of the one-year contract won by PNOC-EDC to supply geothermal drilling services in Papua New Guinea.
  • US$485 million: The amount of the power contract of IMPSA, whose full implementation was delayed.
  • 1999: The year in which the Philippines' power project contract delay could lead to more brownouts, as mentioned by Sen. John Osmena.

Sources:

  • Asia Pulse (http://www.asiapulse.com) - Executive briefing on energy for February 18, 1999.
  • COMTEX (http://www.comtexnews.com) - News provided by COMTEX, exact date not specified.

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