Ambassador Pedro "Junie" Laylo, Jr. met Ratio Petroleum officials to discuss prospects on its oil and gas exploration in the Philippines, and how the firm can assist the country in achieving energy sufficiency.
Ratio Petroleum won the tender (2016) and holds an exploration license (2018) for Block SC76 in the East Palawan Basin. In 2019, it signed an agreement with the Philippine National Oil Company on cooperation in oil and gas exploration and development.
Ratio Petroleum officials will visit the Philippines this February to call on key government agencies and meet potential business partners. Ratio also expressed interest on partnering with Philippine firms engaged in banking, textile, and clean energy technologies.
The Ambassador was accompanied by Third Secretary and Vice Consul Teri Adolf C. Bautista, who heads Post’s Economic Section. Present at the meeting were Ratio Petroleum CEOs Itay Raphael and Yigal Landau, as well as Senior VP for Exploration Eitan Aizenberg.
