Ratio Petroleum has reportedly signed the contract for PECR V (2014) round Area 4,Â  4,160 sq km off E. Palawan, during the visit by President Duterte to Israel.   It is recalled local company Colossal Petroleum had also qualified for the 5,760-sq km Area 5 off East Palawan and 4,680-sq km Area 7 in Recto Bank, but no development are reported on this front. All applications were validated in 2015.
Ratio Petroleum has reportedly signed the contract for PECR V (2014) round Area 4,  4,160 sq km off E. Palawan, 