AN ACT AUTHORIZING THE PRESIDENT OF THE PHILIPPINES, IN AID OF THE ESTABLISHMENT AND OPERATION OF A PETROLEUM AND NATURAL GAS INDUSTRY, TO CALL FOR BIDS AND AWARD AND EXECUTE CONTRACTS FOR THE EXPLORATION, EXPLOITATION AND DEVELOPMENT OF PETROLEUM AND NATURAL GAS DEPOSITS IN PRIVATE AND PUBLIC LANDS IN THE PHILIPPINES, SUBJECT IN ALL CASES TO THE EXPRESS APPROVAL OF THE NATIONAL ASSEMBLY.

DESIGNATING THE DEPARTMENT OF ENERGY AS THE LEAD AGENCY IN DEVELOPING THE PHILIPPINE NATURAL GAS INDUSTRY