“We in Congress have always maintained that private parties are free to get in and get out of existing petroleum service contracts,” said Surigao del Sur Rep. Johnny Pimentel, chairperson of the House strategic intelligence committee, in a statement on Sunday.
In these transactions, Pimentel said, the role of the Department of Energy is merely to oversee the orderly handover of operations with a view to ensuring project continuity and development. Razon, through publicly listed Apex Mining Co., also has a 30 percent participating interest in the other petroleum service contract that contains the Sampaguita gas discovery located 250 kilometers southwest of Malampaya.
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