Publicly listed Basic Energy Corp has bagged three geothermal service contracts from the Department of Energy to explore and develop three geothermal concession areas in Luzon.
In a disclosure to the Philippine Stock Exchange Friday, Basic Energy identified these three projects as the Iriga, Mariveles and East Mankayan geothermal power projects.
According to Basic Energy, the East Mankayan geothermal area covers the provinces of Benguet, Mountain Province and Ifugao. It lies immediately east of the Cervantes, llocos Sur, geothermal block of Pan Pacific Power Phils. Inc., south of the Bontoc-Sadanga block which is operated by Magma Energy Resources and immediately south of the Daklan block operated by Clean Rock Energy.
This particular area, Basic Energy added, is surrounded by known thermal manifestations, such as hot springs and thermally altered grounds.
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