GOVPH (/)
Presidential Decree No. 8, s. 1972
Signed on October 2, 1972 (https://www.o cialgazette.gov.ph/1972/10/02/presidential-decree-no-8-s-1972/)
PRESIDENTIAL DECREE NO. 8
DECREEING THE LAW TO GOVERN OIL EXPLORATION AND DEVELOPMENT.
WHEREAS, the discovery and the development of the country’s indigenous petroleum resources are
vital to the overall national development program;
WHEREAS, in view of the huge amount of capital and in-vestment and the technology and experience
required in oil exploration, and of the fact that such capital, technology and experience are not
available within the country, it is necessary that foreign companies which have the capital, the
technology and the experience should be attracted into exploring and developing the country’s oil
resources, either in partnerships or joint ventures with the Government or the private sector;
WHEREAS, given the constraints of existing laws, the foreign oil exploration companies have not been
su ciently attracted into coming in and investing in oil exploration ventures;
WHEREAS, there was pending before Congress before the promulgation of Proclamation No. 1081,
dated September 21, 1972, an oil exploration measure entitled “AN ACT TO PROMOTE THE DISCOVERY
AND PRODUCTION OF INDIGENOUS PETROLEUM AND APPROPRIATING FUNDS THEREFOR” and
denominated as Senate Bill No. 531, which I have certi ed as one of the urgent measures
necessitating immediate enactment;
WHEREAS, this measure is necessary to the attainment of the objectives of this Government to create
a new social and economic order for the bene t of the country and its people;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines, by virtue of the powers
vested in me by the Constitution as Commander-in-Chief of all the Armed Forces of the Philippines,
and pursuant to Proclamation No. 1081, dated September 21, 1972, and General Order No. 1, dated
September 22, 1972, as amended, do hereby order and decree that the above mentioned oil exploration
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