PNOC lays out reorganization plan

Danessa Rivera (The Philippine Star) - April 30, 2017 - 12:00am

MANILA, Philippines - State-run Philippine National Oil Co. (PNOC) is seeking clearance from the Governance Commission For GOCC (GCG) to pursue its reorganization and transform from a holding company to an operating firm.

The company requires more people as it enters its first year as an earning government-owned or controlled corporations (GOCC), said PNOC president Reuben Lista.

“I called commissioner Samuel Dagpin to consider our request for reorganization because I need the people for our projects to run because this is our first year to be operational,” he said.

Under its reorganization plan, PNOC would need 253 personnel. Currently, its workforce is at 102.

Lista said the company is eyeing to hire overseas Filipino workers (OFWs) in Qatar, Oman, Dubai and UAE who have experience in the power sector.

“We’re thinking of getting OFWs. We are using the embassies to scout some of them,” Lista said.

PNOC hopes to secure GCG’s go-signal before it can start implementing its planned liquefied natural gas (LNG) terminal.

“Before the LNG plants can start operating, we have to train and get people already. This is our first request with CGC, I hope they understand the urgency,” he said.

The LNG terminal will be composed of an initial 200-megawatt power plant, storage facilities, liquefaction and regasification units.

At present, PNOC is only an investment and holding company for government’s oil and gas exploration and renewables businesses. It also earns from interests in bank investments and receivables from the Malampaya gas project.

But in 2014, the GCG directed PNOC to transform itself from a holding company into an operations company “to take upon itself the implementation of the ongoing or incipient programs of some of its subsidiaries, as well as any new programs it may develop in the future.”

  • Latest
  • Trending
Are you sure you want to log out?

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

or sign in with