The Philippines has announced it will auction out eight energy projects, half in the southern Mindanao island, in a bid to secure the country’s energy requirements. The country’s Department of Energy (DOE) has further shared that 50 domestic and international oil and gas companies have indicated interest in the projects, having attended the auction’s launch.

The projects, which include coal along with onshore and offshore petroleum exploration blocks, have attracted strong interest from local and international oil and gas firms, the Department of Energy said in a statement.

Wells have previously been drilled in five of the petroleum blocks that were being auctioned, all of which showed oil and gas potential. The other projects were for exploring hydrogen in the northern Philippines, it said.

Winning bidders will be announced in the second half of the year.

A country of 110 million people, the Philippines is dependent on imported fuel to meet its needs, making it vulnerable to global energy price shocks.

The government last year signed an agreement extending the production contract for the Malampaya natural gas block by 15 years and allowing the operator to drill new wells to boost output, which is expected last until 2027.

With just a few years before the Philippines’ only gas field runs dry, the country has started importing liquefied natural gas (LNG) to help replace gas from the field that provides fuel to power plants that deliver about a fifth of its power requirements.