COTABATO CITY (MindaNews / 21 July) — The Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) has the potential to economically flourish by tapping its rich deposits in natural gas and minerals, an official said.
BARMM Interior Minister Naguib Sinarimbo said he envisions a “dramatic transformation” of BARMM akin to how Saudi Arabia changed from a backward desert country to a prosperous one due to its income from oil.
Foreign investors have shown interest in pouring in capital to explore the region’s gas and mineral resources.
Sinarimbo, who heads the Upstream Conventional Energy Resource Development Technical Working Group in the agreement between BARMM and the national government on natural gas exploration in the region, said investors from Malaysia and the Middle East were interested in exploring the Liguasan marsh.
Energy officials of the national government and BARMM recently signed a circular on the Joint Awards of Petroleum Service Contracts and Coal Operating Contracts in the region.
The signing operationalized the Intergovernmental Energy Board, as provided for in the Bangsamoro Law and in the Annexes on the Comprehensive Agreement on the Bangsamoro.
It was historic since President Ferdinand Marcos Jr was around to witness the signing in Malacanang.
The Bangsamoro Law clearly states that “subject to the provisions of the Philippine Constitution and national laws, the Bangsamoro and national government shall jointly exercise the power to grant rights, privileges, and concessions over the exploration, development, and utilization of uranium and fossil fuels such as petroleum, natural gas, and coal in the territorial jurisdiction of the Bangsamoro.”
Section 2, Article XIII of the same law mandates the Bangsamoro Government to “promote the effective use of economic resources and endeavor to attain economic development that facilitates growth and full employment, human development, and social justice.”
Chief Minister Ahod Ebrahim assured that allowing local and foreign investors to tap the region’s rich natural resources will go hand in hand with environmental protection and benefits for the people.
He said the regional government, through the Ministry of Energy and Natural Resources, will closely watch and monitor the activities to ensure that indigenous communities are safe from destruction.
“Most of the investors in oil exploration are from outside the country,” he said.
Both Ebrahim and Sinarimbo said this is one of the emerging peace dividends after the signing of the peace agreement with the national government.
Many resources-rich areas in BARMM have remained untapped for decades.
Sinarimbo cited that unlike in Sabah in Malaysia where the national government gets 95 percent of the revenues from its resources, BARMM will enjoy a 50-50 sharing with the Philippine government.
He said BARMM is ensuring that what happened in the Lake Lanao energy project through the National Power Corporation will never happen again.
Akmad Brahim, BARMM Environment Minister, said his office will ensure every Bangsamoro wins in this endeavor.
Brahim said all the undertakings regarding exploration of the region’s natural resources are anchored on the guidelines signed by the national and regional energy offices.
President Marcos eyed BARMM as one of the country’s energy hubs following the signing of the circular in Malacanang.
“I am very, very happy that we have arrived at this day so we begin to exploit the riches that truly belong to the Autonomous Region in Muslim Mindanao and certainly to the national government,” said Marcos who witnessed the signing of the circular on July 6 in Malacanang. (Ferdinandh B. Cabrera/MindaNews)
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