PNOC Exploration Corporation
PNOC Exploration Corporation is the Philippine National Government's upstream oil, gas, and coal exploration subsidiary under PNOC, operating petroleum service contracts (notably the SC 38/Malampaya Deepwater Gas-to-Power Project supplying 30% of Luzon's electricity) and coal operating contracts in Zamboanga Sibugay and Isabela, plus coal and petroleum trading.
- Company typePrivate
- Founded1976
- HeadquartersTaguig, Philippines
- Headcount101–250
- GTM typeB2B
- OfferingServices
What PNOC Exploration Corporation does
PNOC Exploration Corporation (PNOC EC) is the upstream oil, gas, and coal exploration and development arm of the Philippine National Government, established in 1976 as a subsidiary of the Philippine National Oil Company (PNOC). The company operates a portfolio of petroleum service contracts — SC 38 (the Malampaya Deepwater Gas-to-Power Project, in consortium with Prime Energy and Shell), SC 37 (Isabela), SC 57 (Northwest Palawan), and SC 59 (Southwest Palawan) — alongside coal operating contracts COC 41 (Zamboanga Sibugay, including the Lumbog and Integrated Little Baguio projects), COC 122 (Isabela), and COC 185/186. It also runs trading operations in coal and petroleum products through its Zamboanga Sibugay terminal and international supplier sourcing. Headquarters are in Bonifacio Global City, Taguig, with operational offices in Zamboanga Sibugay and Isabela Province.
Revenue derives from the company's participating interest in the SC 38 / Malampaya Deepwater Gas-to-Power Project (which has generated over US$13 billion in cumulative National Government revenues since 2001 and supplies up to 30% of Luzon's electricity), coal sales from its small-scale COC 41 mining operations, and petroleum product trading margins. The company also holds minority positions in planned mine-mouth coal-fired power plant projects in Isabela (~100MW) and Zamboanga Sibugay (50-100MW), for which it is actively seeking joint venture partners via NEDA guidelines. Reported revenues were PhP4.38 billion in 2017 and PhP3.40 billion in 2020, with PhP3.01 billion in dividends remitted to the National Treasury in 2020. Go-to-market is government-contract-driven: enterprise field sales through service contracts, JV farm-outs, and bilateral trading agreements, with the Department of Energy as primary regulator and the Governance Commission for GOCCs providing oversight.
Technically, PNOC EC's differentiators are concentrated in its SC 38 consortium position and ISO 9001:2015-certified petroleum and coal exploration reporting systems rather than in proprietary technology platforms. The Malampaya Phase 4 Drilling Campaign (launched late 2025) yielded the Malampaya East 1 discovery (~98 BCF gas in place, ~14 billion kWh/yr potential) and SC 38 was extended to 2039 under presidential authority. The company markets minimally, relying instead on transparency portals, annual reports, and GCG compliance disclosures typical of a Philippine GOCC. It has won multiple PH-EITI transparency awards (including 1st Place in Oil & Gas reporting in 2025) and has earned five consecutive GCG Highly Satisfactory stakeholder ratings.
PNOC Exploration Corporation firmographics
Firmographics- Name
- PNOC Exploration Corporation
- Legal name
- PNOC Exploration Corporation
- Website
- https://pnoc-ec.com.ph
- Company type
- Private
- Founded year
- 1976
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PNOC Exploration Corporation is the Philippine National Government's upstream oil, gas, and coal exploration subsidiary under PNOC, operating petroleum service contracts (notably the SC 38/Malampaya Deepwater Gas-to-Power Project supplying 30% of Luzon's electricity) and coal operating contracts in Zamboanga Sibugay and Isabela, plus coal and petroleum trading.
- Ownership category
- akta.pro rank
PNOC Exploration Corporation industry classification
Industry- Product category
- Upstream Oil, Gas and Coal Exploration
- NAICS
- Natural Gas Extraction (21113), Crude Petroleum Extraction (21112)
- SIC
- Crude Petroleum & Natural Gas (1311)
- akta.pro primary industry
- Offshore Natural Gas E&P (Shallow & Deepwater) (EUAAAAAF)
- akta.pro secondary industry
- Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)
Keywords
Where PNOC Exploration Corporation is headquartered
LocationHeadquarters
- HQ city
- Taguig
- HQ country
- Philippines
- HQ region
- Asia
Offices4 records
Markets served
PNOC Exploration Corporation business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain
Revenue model
- Petroleum Service Contracts: PNOC EC participates in petroleum exploration and production through service contracts. The company is a member of the SC 38 Consortium operating the Malampaya Deepwater Gas-to-Power Project, which has generated over US$13 billion in revenues for the National Government since production began in 2001.
- Coal Trading and Marketing: PNOC EC's Trading and Marketing business serves industrial customers with coal supply from its own COC 41 small scale mines and other indigenous sources. The company operates a terminal in Zamboanga Sibugay serving as receiving port, storage and blending yard. The company also trades petroleum products sourced from international suppliers.
- Joint Venture Power Projects: PNOC EC maintains minority stakes in mine-mouth coal-fired power plant projects, including Isabela (100MW estimated capacity) and Zamboanga Sibugay (50-100MW) projects. The company seeks JV partners following NEDA guidelines.
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
PNOC Exploration Corporation product offering
Product offeringCore offering
PNOC Exploration Corporation is the upstream oil, gas, and coal exploration and development arm of the Philippine National Government, operating as a Government-Owned and Controlled Corporation (GOCC) under the Philippine National Oil Company (PNOC). The company participates in petroleum service contracts (SC 37, SC 38 Malampaya, SC 57, SC 59) and coal operating contracts (COC 41, COC 122, COC 185 & 186), and provides coal and petroleum trading and marketing services through its terminal in Zamboanga Sibugay.
Product overview
PNOC Exploration Corporation operates as an upstream oil, gas, and coal exploration and development company offering multiple service contracts and trading services. The portfolio includes Coal Operating Contracts (COC 41, COC 122, COC 185 & 186) for coal exploration in Zamboanga Sibugay and Isabela provinces, and Petroleum Service Contracts (SC 38 Malampaya, SC 37, SC 57, SC 59) for deepwater and onshore petroleum exploration. Additionally, the company provides Trading and Marketing services for both coal and petroleum products through its terminal facilities and international supplier network.
Differentiator
Problem solved
Functional benefit
Products and services
- Coal Operating Contract 41 (COC 41) - Zamboanga Sibugay Coal Project Coal exploration and development project located in Zamboanga Sibugay Province covering the Malangas Coal Reservation, including the Integrated Little Baguio Coal Project and Lumbog Coal Project with mineable reserves of 1,400,000 MT and projected annual production of 200,000 tons. DOE-granted 18-year extension until 13 August 2030.
- Coal Operating Contract 122 (COC 122)
Quantifiable outcome
- Over US$13 billion in government revenues generated since 2001
- +3 more outcomes
Companies that use PNOC Exploration Corporation
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
PNOC Exploration Corporation technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
PNOC Exploration Corporation partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- SC 38 Consortium (Prime Energy, UC 38, PNOC EC, Prime Oil and Gas)corePNOC EC has been a member of the SC 38 Consortium since December 1999. The consortium operates the Malampaya Deepwater Gas-to-Power Project, the largest foreign investment project in the Philippines. The Malampaya Phase 4 Drilling Campaign began in late 2025, discovering Malampaya East 1 well with 98 BCF gas in place. Service Contract 38 has been extended until 2039 under President Marcos.
- RosneftminorRosneft and PNOC EC developed cooperation discussions, along with Pionaire Finance Limited, for potential energy projects.
- National Iranian Oil Company (NIOC)minorPNOC EC signed MOU with NIOC to explore possible areas of cooperation in oil exploration, production, and other energy sector fields including petroleum product trade.
- Taiwan Overseas Mining Co. (Phils) Inc. (TOMC)minorTOMC previously operated the Integrated Little Baguio Coal Project in COC 41 before PNOC EC started its own mine operations on 16 March 2009. PNOC EC conducted major repair and rehabilitation to save the mine from premature deterioration.
- ShellcoreShell is the operator for Malampaya gas production in Service Contract 38. PNOC EC continues to support exploration and production activity with joint venture partners and operators.
- Nido PetroleumminorNido Petroleum operates SC 58. PNOC EC continues to support exploration and production activity with joint venture partners.
- PXP EnergyminorPXP Energy operates SC 74 and SC 75. PNOC EC continues to support exploration activities and service contracts in various petroleum basins.
- The Lantau GroupminorThe Lantau Group serves as transaction advisor for PNOC EC's two mine-mouth coal-fired power plant projects - one in Isabela and one in Zamboanga Sibugay.
- Department of Energy (DOE)coreDOE grants service contract extensions and oversees petroleum and coal operating contracts. The DOE granted 18-year extension of COC 41 until 13 August 2030.
- Philippine NavyminorPNOC EC donated relief goods to Typhoon Pablo victims through the Philippine Navy for transport and distribution to affected communities in Mindanao.
- Manila Water FoundationminorLa Mesa Ecopark, now under auspices of Manila Water Foundation since 2024, serves as venue for PNOC EC environmental activities.
Scale indicators11 records
Recent moves7 records
Expansion highlights5 records
PNOC Exploration Corporation competitors and assessment
Company assessmentBroad incumbents
- First Gen Corporation: Philippine power company with major natural gas-fired generation assets. Comparable as a Luzon power off-taker dependent on Malampaya-equivalent indigenous gas supply.
- Philippine National Oil Company (PNOC): PNOC EC's parent company and integrated state-owned energy holding. Comparable as the broader government energy vehicle encompassing exploration, refining, and renewables.
- Aboitiz Power Corporation: Major Philippine private power generator with significant coal, hydro, and renewables exposure. Comparable as a counterparty and potential JV partner for PNOC EC's mine-mouth power projects.
- Semirara Mining and Power Corporation: Philippines' largest coal producer and integrated power generator. Comparable as a domestic coal operator and power producer that overlaps with PNOC EC's coal-to-power JV thesis, though at significantly larger scale.
Direct peers
- Nido Petroleum Pty Ltd: Australian-listed upstream company operating SC 58 in the Philippines. Directly comparable as a small-cap SC operator with overlapping exploration acreage and JV structure with PNOC EC.
- PXP Energy Corporation: Philippine-listed upstream oil and gas company operating SC 74 and SC 75. Comparable as a domestic petroleum service contract operator pursuing exploration in Philippine basins.
- Prime Energy Resources Development B.V. Operator and consortium lead of the Malampaya Deepwater Gas-to-Power Project (SC 38). Most direct upstream gas peer in the Philippines and partner in PNOC EC's flagship asset.
- Shell Philippines Exploration B.V. SC 38 operator and consortium partner with PNOC EC in Malampaya. Compares as a deepwater gas operator with overlapping technical and commercial decision-making on PNOC EC's core asset.
- UC 38 LLC: Member of the SC 38 Consortium operating the Malampaya Deepwater Gas-to-Power Project alongside PNOC EC, Prime Energy, and Prime Oil and Gas. Direct consortium partner in PNOC EC's flagship asset.
Emerging players
- National Exploration Corporation (NEP): Philippine upstream participant ranked second in PH-EITI Excellence in Reporting Awards 2025, directly behind PNOC EC. Comparable as a peer state-aligned domestic oil and gas reporting entity.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
PNOC Exploration Corporation social profiles
Digital presencePNOC Exploration Corporation financial estimates
Financial estimateRevenue estimate
Valuation estimate
PNOC Exploration Corporation leadership team
Management profileNumber of profiles
Profiles12 records
PNOC Exploration Corporation funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PNOC Exploration Corporation M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PNOC Exploration Corporation
What does PNOC Exploration Corporation do?
PNOC Exploration Corporation is the upstream oil, gas, and coal exploration and development arm of the Philippine National Government, operating as a Government-Owned and Controlled Corporation (GOCC) under the Philippine National Oil Company (PNOC). The company participates in petroleum service contracts (SC 37, SC 38 Malampaya, SC 57, SC 59) and coal operating contracts (COC 41, COC 122, COC 185 & 186), and provides coal and petroleum trading and marketing services through its terminal in Zamboanga Sibugay.
Is PNOC Exploration Corporation a public or private company?
PNOC Exploration Corporation is a private company. It is classified as state government owned and is currently operating.
When was PNOC Exploration Corporation founded?
PNOC Exploration Corporation was founded in 1976. It employs 101 to 250 people.
Where is PNOC Exploration Corporation based?
PNOC Exploration Corporation is headquartered in Taguig, Philippines, in the Asia region.
How does PNOC Exploration Corporation make money?
Three revenue lines are on record. Petroleum Service Contracts are the primary driver. The others are coal Trading and Marketing and joint Venture Power Projects.
Who are PNOC Exploration Corporation's main competitors?
Broad incumbents on record are First Gen Corporation, Philippine National Oil Company (PNOC), Aboitiz Power Corporation and Semirara Mining and Power Corporation. Direct peers are Nido Petroleum Pty Ltd, PXP Energy Corporation, Prime Energy Resources Development B.V., Shell Philippines Exploration B.V. and UC 38 LLC. National Exploration Corporation (NEP) is listed as an emerging player.
Does PNOC Exploration Corporation have an API?
No public API is recorded for PNOC Exploration Corporation.
What industry is PNOC Exploration Corporation in?
PNOC Exploration Corporation's product category is Upstream Oil, Gas and Coal Exploration. Its primary akta.pro industry code is EUAAAAAF, Offshore Natural Gas E&P (Shallow & Deepwater), with a secondary code of EUAAAAAA, Conventional Natural Gas Exploration & Production (Dry Gas). Its NAICS code is 21113 and its SIC code is 1311.