WHEREAS, under Presidential Decree No. 87, otherwise known
as the "Oil Exploration and Development Act of 1972" issued on December
31, 1972, it is the declared policy of the State to hasten the discovery
and development of the country's indigenous petroleum resources;
WHEREAS, the attainment of this desired objective is
unnecessarily hampered by an acute shortage of Filipino technical
personnel in the sciences related to petroleum exploration and
development, the absence of an integrated data and information on the
country's petroleum potentials and resources, and the lack of local
petroleum laboratories to perform geological and geographical data
processing and analysis;
WHEREAS, it has become imperative to establish a
governmental unit in the Petroleum Board which will have ample powers to
attain the above objectives;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the
Philippines, by virtue of the powers in me vested by the Constitution,
do hereby decree, order and make part of the law of the land the
following measure: