Proposal by Getty Oil Company
- Getty Oil Company proposed a project for uranium and other nuclear fuel minerals exploration and development.
- The proposal entails a service contract where Getty Oil would provide the necessary services, technology, and financing.
- The targeted location for mining operations is the Larap/Paracale area.
Formation and Composition of the Committee
- A committee is created to provide direction and accelerate uranium exploration and development.
- Composition includes senior officials from the Department of Energy, Department of Finance, Department of Justice, Department of Natural Resources, and the Board of Investments.
- The Secretary of Energy is tasked to supervise and organize the committee's composition.
- Within five days from the issuance of the instruction, the mentioned departments must submit their nominees to the Secretary of Energy.
Mandate and Functions of the Committee
- Conduct a thorough review of existing legislation pertaining to uranium and other nuclear fuel minerals.
- Formulate and recommend policy guidelines to promote exploration, exploitation, development, and utilization of these minerals.
- Evaluate Getty Oil's proposal and recommend the most suitable contractual or investment vehicle for the project.
Reporting Requirements and Timeline
- The committee must complete its review, evaluation, and formulation of recommendations within thirty days.
- Findings and recommendations are to be submitted to the President through the Secretary of Energy.
Operational Authority and Support
- The committee is authorized to seek assistance from the involved government departments and their bureaus or offices.
- Support may include personnel, facilities, and resources necessary for the committee’s functions.
Effectivity
- The letter of instruction takes effect immediately upon issuance.
- Issued on February 9, 1978, by the President of the Philippines, Ferdinand E. Marcos, under the supervision of the Presidential Assistant.