PNOC EC Among Top-Performing GOCC’s for 2017

(File image shows an aerial shot of the successful Mangosteen-1 drilling in Isabela)

PNOC EC AMONG TOP-PERFORMING GOCC’S FOR 2017

Taguig City (22 November 2018) – PNOC Exploration Corporation, the oil, gas, and coal exploration and development arm of the National Government, ranked among the best performing Government Owned and Controlled Corporations (GOCC’s) for Calendar Year 2017 according to the 2017 Annual Financial Report for Government Corporations.

The Report is a comprehensive look at the performance of all GOCC’s and is authored by the Commission on Audit (COA). It was released in the middle of 2018.

PNOC EC was among the Top 20 in terms of Total Income (P4, 380, 310, 000), Top 11 in terms of Dividend Remittances (P519, 424, 000), and Top 14 in terms of Taxes Paid (P782, 791, 000).