Oil Exploration and Development Act Amendments

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PRESIDENTIAL DECREE NO. 87: Oil Exploration and Development Act Amendments

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Title Supreme Court: Oil Exploration and Development Act Amendments

Law: Presidential Decree No. 87

Decision Date: Dec 31, 1972

The Oil Exploration and Development Act of 1972 in the Philippines aims to expedite the discovery and production of indigenous petroleum resources, with private enterprises receiving just returns and assuming exploration risks, while the government grants authority for direct and indirect exploration and production through service contracts, ensuring maximum efforts in discovering and producing petroleum.

indigenous petroleum resources

private enterprises

exploration risks

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