The Department of Energy (DOE) and the Ministry of Energy of the Kingdom of Saudi Arabia (KSA) are set to hold a series of bilateral meetings to develop a roadmap for implementing the memorandum of understanding (MOU) on energy cooperation signed last month.
The MOU was signed on Oct. 14, 2024 by Energy Secretary Raphael Lotilla and Saudi Energy Minister Prince Abdulaziz bin Salam Al Saud in Saudi Arabia.
The roadmap is expected to be finalized in three months and will be presented to Minister Al Saud and Lotilla.
The cooperation, through a well-defined roadmap, underscores the Philippines’ commitment to energy security, economic growth and sustainable development, as it benefits from Saudi Arabia’s extensive experience.
“I welcome the joint efforts by both countries to implement the provisions of the MOU, which is a direct follow-through of the discussions held during President Ferdinand Marcos Jr.’s visit to Saudi Arabia in October last year. During that visit, Saudi state-owned companies expressed strong interest in investing in the Philippine energy sector,” Lotilla said.
