PXP Energy Corp. is seeking investors and foreign partners to help fund petroleum exploration after securing new service contracts, its chairman said, as reported by BusinessWorld.
Chairman Manuel V. Pangilinan told reporters last week that the company must raise money for its various service contracts, and that it is looking for foreign partners to participate in the projects.
The report did not provide further details on the number of contracts or the amount of funding needed. The company is expected to pursue partnerships as it advances its exploration activities.