PNOC Exploration Corporation (PEC) is the upstream oil and gas subsidiary of the state-owned Philippine National Oil Company (PNOC). Initially starting out as the Exploration Department of PNOC in April 1975, PEC was eventually incorporated as a PNOC subsidiary and registered with the Securities and Exchange Commission on April 20, 1976. PEC's primary purpose is to explore, exploit, develop, transport, distribute, trade in, import and export oil, gas and other energy resources. PEC can also purchase or otherwise acquire, operate and maintain all kinds of plants, warehouses, terminals, docks, piers, wharves and other water works facilities. The company is actively engaged in the Philippines' search for indigenous sources of energy, and has undertaken various onshore and offshore oil and gas exploration activities in many parts of the country. PEC operates the country's first natural gas power plant facility, a three-megawatt pilot plant in San Antonio, Isabela that was commissioned in 1994. The company also engages in coal trading operations and integrated services, which it assumed from PNOC Coal Corporation in 2002, and operates the Energy Supply Base, a private commercial port that offers berthing, cargo handling, storage and warehousing facilities. At present, PEC has only one subsidiary, PNOC Malampaya Production Corporation. Source: SEC Form 17-A (2008)