British Gas eyes RP

British Gas eyes RP

MANILA (AFP): British Gas plc conducted talks with four local
oil firms for possible oil and gas exploration activities in the
Philippines, the Energy Department said yesterday.

Officials of the British firm met with executives of state-
owned Philippine National Oil Co., South China Petroleum,
Petrofields Corp. and Cophil Corp., Energy Undersecretary Rufino
Bomasang told reporters.

British Gas technical experts are scheduled to arrive here
next month to continue the firm's review of existing petroleum
data, he said.

The firm expressed interest in the petroleum potential of the
Cuyo prospect off the western island of Palawan and the Ragay
Gulf in the eastern Philippines, he said.

British Gas signed a $50 million joint venture agreement last
month with First Philippine Holdings Corp. to develop natural gas
projects in the country.