PHINMA Energy spun-off its resource development arm to Trans-Asia Petroleum (TAPET). TAPET is responsible for the exploration, development, and production of energy resources, particularly oil, gas and geothermal. PHINMA Energy’s other resource development subsidiaries are Palawan 55 Exploration and Production Corporation and Maibarara Geothermal, Inc., a joint venture with PetroGreen and PNOC Renewables Corporation.
PHINMA Energy’s oil and gas operations cover five service contracts located in offshore Palawan and central part of the Visayas. These service contracts are in varying stages of exploration maturity, with one in the production stage. Through the course of its exploration, PHINMA Energy entered into strategic partnerships with other exploration companies of similar vision and objectives.
For more information on PHINMA Energy’s energy resource development projects, visit www.transasia-petroleum.com.