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.
The consortium, composed of Basic Energy Corp. and Phinma Energy, formerly Trans-Asia Oil and Energy Development Corporation, said the drilling at the Mabini Geothermal Project is still ongoing. “As of December 5, 2016, a casing (3-1/2”) inch string has been successfully installed at a depth of 660 meters. The next steps shall consist of rig…read more
Basic Energy Corp. and Phinma Energy Corp., formerly Trans-Asia Oil and Energy Development Corp., are expected to reach the target drilling depth of the Mabini geothermal project in the first quarter of next year. Basic Energy disclosed to the Philippine Stock Exchange it started drilling on the San Teodoro, Mabini, Batangas geothermal prospect and reached…read more