of Shell Philippines Exploration by Malampaya Energy, a subsidiary of Dennis Uy's Udenna Corporation.In a statement on Monday, May 24, Energy Secretary Alfonso Cusi said the DOE review will follow after the transaction has been completed at the consortium level.
"[O]nce the transaction has been completed at the consortium level, it will still be submitted to the DOE for its review and approval in accordance with Presidential Decree No. 87 otherwise known as the Oil Exploration and Development Act of 1972," said Cusi.
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