Philippines: Phinma Energy plans on geothermal deal this year with more to follow in 2018

Philippines: Phinma Energy plans on geothermal deal this year with more to
follow in 2018

Earlier this year, we reported of the renaming of Trans-Asia Petroleum into
Phinma Energy, the company now announces that it is hopeful in closing a
geothermal project deal within this year.

As reported by PhilStar, Phinma has been looking at geothermal projects as
it shifts its focus from the capital intensive petroleum
exploration-production business, PPGI executive vice president and chief
operating officer Raymundo Reyes Jr. There are though no further details
available publicly.

In April, the company changed its name from Trans-Asia Petroleum Corp.,
signalling its entry into the geothermal exploration and production sector.

The company is specifically looking at one project in North Luzon and there
are ongoing discusisons for a farm-in agreement, according to PPGI president
and chief executive officer Francisco Viray. But the company is also
considering overseas venture, but this will wait until next years.

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Link to Original Article:
http://www.thinkgeoenergy.com/phinma-energy-plans-on-geothermal-deal-this-ye
ar-with-more-to-follow-in-2018/

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John Diecker
APT Consulting Group Co., Ltd.

www.aptthailand.com