PETROENERGY CELEBRATES ITS 10TH LISTING ANNIVERSARY
PetroEnergy Resources Corporation (PERC) celebrated on August 12, 2014 its 10th anniversary as a publicly-listed company in the Philippine Stock Exchange (PSE). Together with the Board of Directors and Officers, PERC’s Chairperson Ms. Helen Y. Dee led the ringing of the opening bell at the trading area of the PSE in Ayala, Makati City. PSE Chairman Mr. Jose T. Pardo and President Mr. Hans B. Sicat presented a commemorative plaque to Ms. Dee and PERC President Ms. Milagros Reyes.
PERC traces its roots from Petrotech Consultants Inc., a company that provided specialized technical services in the fields of geology, geophysics, paleontology, and other related fields. It was in 1997 when Petrotech formally changed its name to PetroEnergy when it decided to focus on oil exploration and development.
On August 4, 2004, PERC was listed in the PSE and generated the required capital for its commercial oil production in Gabon, West Africa. PERC is considered to be the only Philippine firm with profitable international upstream venture. The company’s operations expands to other upstream oil projects in the Philippines, such as in Octon, West Linapacan, East Visayas, offshore Mindoro, and North West Palawan.
Recognizing the opportunities from renewable energy, PERC expanded into renewable energy generation by establishing a wholly-owned subsidiary, PetroGreen Energy Corporation (PGEC), in October 2010. PGEC has 65% interest in the 20 MW Maibarara Geothermal Power Project in Sto. Tomas, Batangas and 40% in the 50 MW Nabas Wind Power Project in Nabas, Aklan.