LOPEZ-owned Energy Development Corp. (EDC) is targeting to expand their operations overseas.
Richard Tantoco, EDC president and COO, issued the statement as he revealed that they received invitation to participate in geothermal drilling bidding in Kenya.
"One of our goals is to advance the technical side of our drilling services by expanding our international operation and eventually generate more income from this," he said.
Tantoco said that though they've been invited, "there's nothing definite yet on this. But we have been invited to a bidding (in Kenya)."
There had been reports that EDC is also looking at joining the geothermal drilling in Chile. Tantoco however denied this, saying "there's nothing going on in Chile."
The official said they expect to generate profit in their local operations in the next four years, but stressed that they also see the potential of the overseas market.
Asked further on their expansion plans abroad, Tantoco declined to comment.
EDC vice chairman Paul Aquino meanwhile admitted that the company looks at the overseas opportunities.
"Its part of our general plan. But at present, we cannot give details yet on how we will go about our expansion in the international front," Aquino said.
Earlier, EDC said it will establish its presence in Indonesia, South Asia, and in the Middle East.
Currently, EDC has a branch in Indonesia as part of the initial move to explore geothermal development business in that country.
EDC is likewise conducting drilling operations in Lihir Gold Ltd., in Papua New Guinea. (MSN/Sunnex)