Basic Energy Corporation is a publicly listed holding company in the Philippines, with business interests in various fields of renewable energy and alternative fuels, and oil and gas exploration and development.
In a span of nearly 50 years since the company was established, Basic Energy has undergone a dramatic transformation from an operating company into a holding company. Aligned with its primary purpose of developing alternative and renewable energy sources, the company changed its corporate name to Basic Energy Corporation from Basic Petroleum Corporation in 2007.
Basic Energy continues to fuel the Philippines’ vibrant energy sector with the breadth and depth of its projects and technical knowledge. The Company aims to be the leading developer of alternative and renewable energy, oil and allied products and services in the country.
MANILA, Philippines – The consortium operating the Mabini geothermal project in Batangas has started drilling an exploratory well, which will determine the steam resource available in the service contract. The consortium, composed of Basic Energy Corp. and Trans-Asia Oil and Energy Development Corp., spudded an exploratory well with a minimum depth of 1,500 meters, which…read more
With the spudding of targeted exploratory well, drilling for the extraction of steam resource has officially commenced for the planned Mabini geothermal power project. Holders of Geothermal Service Contract No. 8 – Basic Energy Corporation and Trans-Asia Oil and Energy Development Corporation – both announced at the Philippine Stock Exchange (PSE) the spudding of the…read more