Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir

Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir

Executive Order No. 556Jun 17, 2006Presidential Issuances2 min read

Executive Order No. 556, issued on June 17, 2006, amends Executive Order No. 473 by mandating that the exploration, development, and production of crude oil from the Camago-Malampaya Reservoir be conducted through a strict bidding process. It prohibits "farm-in" or "farm-out" contracts and emphasizes transparency in government dealings. All partnerships must demonstrate financial capability and must not involve entities from jurisdictions known for money laundering. The order further stipulates that contracts can only be awarded to principal groups, not traders or brokers, and invalidates any conflicting executive issuances. This order took effect immediately upon publication.

What is Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir about?: Executive Order No. 556, issued on June 17, 2006, amends Executive Order No. 473 by mandating that the exploration, development, and production of crude oil from the Camago-Malampaya Reservoir be conducted through a strict bidding process. It prohibits "farm-in" or "farm-out" contracts and emphasizes transparency in government dealings. All partnerships must demonstrate financial capability and must not involve entities from jurisdictions known for money laundering. The order further stipulates that contracts can only be awarded to principal groups, not traders or brokers, and invalidates any conflicting executive issuances. This order took effect immediately upon publication.
What type of law is Executive Order No. 556?: Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir (Executive Order No. 556) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.
When was Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir enacted?: Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir (Executive Order No. 556) was enacted on Jun 17, 2006.
What is the citation for Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir?: Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir, Executive Order No. 556, Jun 17, 2006 (Philippines)

Law Information

Reference Number: Executive Order No. 556
Date Enacted: Jun 17, 2006
Category: Presidential Issuances
Subcategory: Executive Orders
Jurisdiction: Philippines
Enacting Body: Congress of the Philippines

June 17, 2006

EXECUTIVE ORDER NO. 556

AMENDING EXECUTIVE ORDER NO. 473 AND REQUIRING THE EXPLORATION, DEVELOPMENT AND PRODUCTION OF CRUDE OIL FROM THE CAMAGO-MALAMPAYA RESERVOIR TO BE UNDERTAKEN THROUGH BIDDING

WHEREAS, Executive Order No. 473 tasked the Department of Energy (DOE) to pursue the immediate exploration, development and production of crude oil from the Camago-Malampaya Reservoir;

WHEREAS, transparency is a government policy;

WHEREAS, it is government policy to bid out projects unless only one qualified bidder emerges from a published invitation to bid;

NOW, THEREFORE, I, GLORIA M. ARROYO, President of the Republic of the Philippines, by virtue of the powers vested in me by law, do hereby order:

SECTION 1. There shall be no "farm-in" or "farm-out" contracts awarded by any government agency, including the Philippine National Oil Company (PNOC), including the contract for the exploration, development and production of crude oil from the Camago-Malampaya Reservoir.

SECTION 2. All government agencies, including the PNOC, shall follow a strict bidding procedure in forging partnership with interested parties, including the Camago-Malampaya Reservoir venture.

SECTION 3. The corporate identity and of any partner tapped by any government agency, including the PNOC, must be beyond question.

SECTION 4. The paid-up capital of any partner tapped by any government agency, including the PNOC, must clearly show financial capability to undertake the subject venture; aEAIDH

SECTION 5. No government agency, including the PNOC, may enter into a contract with a company registered in a jurisdiction know to be a haven for money laundering;

SECTION 6. All government agencies, including the PNOC, may award a contract, including the Camago-Malampaya Reservoir venture, only to a true principal group and not to a trader/broker.

SECTION 7. Any and all negotiations or arrangements entered into by any government agency, including the PNOC, which violate this Executive Order, shall be immediately discontinued or cancelled.

SECTION 8. All other executive issuances, rules and regulations or parts thereof, including Executive Order No. 473, which are inconsistent with the provision of this Executive Order are hereby repealed, amended or modified accordingly.

SECTION 9. This Executive Order shall take effect immediately following its publication in the Official Gazette or in a newspaper of general circulation.

DONE in the City of Manila, this 17th day of June, in the year of Our Lord, Two Thousand and Six.

Cite This Law

Standard Citation

Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir, Executive Order No. 556, Jun 17, 2006 (Philippines)

Bluebook Style

Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir, Executive Order No. 556 (Phil. 2006)

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Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir

Executive Order No. 556Jun 17, 2006Presidential Issuances2 min read

Quick Answers

What is Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir about?

What type of law is Executive Order No. 556?

Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir (Executive Order No. 556) is a Philippine Presidential Issuances enacted by the Congress of the Philippines.

When was Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir enacted?

Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir (Executive Order No. 556) was enacted on Jun 17, 2006.

What is the citation for Amendment to E.O. No. 473 s. 2005: Bidding of Contract for Exploration, Development and Production of Crude Oil from the Camago-Malampaya Reservoir?