President’s Hall, Malacañan Palace
July 6, 2023
“This collaborative endeavor stands as an unwavering testament to our firm commitment to unity and unwavering cooperation as we unlock the vast and untapped potentials of the region,” President Ferdinand R. Marcos Jr. reaffirmed as he recognized the crucial role of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) towards securing a more robust energy sector.
The President made these remarks during the signing of the Joint Circular on the Joint Award of Petroleum Service Contracts (PSCs) and Coal Operating Contracts (COCs), where he underscored this as an important step in facilitating the robust growth of the energy sector, and at the same time, attracting investments.
“By harnessing the enormous energy potential within BARMM, we will reduce our reliance on external sources, mitigate the detrimental impacts of price fluctuations and build a solid foundation for our country’s energy security,” he said.
The Joint Guidelines empower the National and Bangsamoro Governments to grant rights, privileges and concessions for the exploration of BARMM’s energy resources as indicated in the provisions of the Bangsamoro Organic Law (BOL).
“These guidelines demonstrate our resolute commitment to responsible stewardship, ecological sustainability and the cultivation of a vibrant energy sector,” the President conveyed.
The Chief Executive also noted that the national government’s cooperation with the BARMM extends beyond energy resource development. He affirmed his commitment of the Administration’s continuous efforts to explore developmental opportunities that will empower the Bangsamoro Region.
“Through the responsible and innovative utilization of our abundant resources, we are determined to ignite profound and positive change in the lives of our people, especially our sisters and brothers in the BARMM,” President Marcos Jr. remarked.