American oil and gas companies remain keen on the Philippines exploration industry despite the recent political shift, the Department of Energy said.
Energy Secretary Raphael Lotilla said in a recent interview with Bloomberg TV that American firms were interested in exploring “ultra deep” areas within the archipelago.
“And we will see how that proceeds because they, the American companies have assured us that their interest is driven by the economics and not by changes in political administration,” Lotilla said.
He said US President Donald Trump’s drill policy would have an impact “on the potential of further gas exploration in the Philippines by American companies.”
”So, if the opportunities in the US will be bigger for them, then they might decide to postpone their investments in regions like Southeast Asia,” he said.
