Republic Act No. 10516

SECTION 1. Assignment of Duty. The administration, management, and ownership of that parcel of land of the public domain located at Lamao, Limay, Bataan which is reserved for industrial estate purposes and more particularly described in Presidential Proclamation No. 361 dated March 6, 1968 as amended by Proclamation No. 630 dated November 29, 1969, subject to private rights, if any, which shall be the subject of expropriation, is hereby transferred to the Philippine National Oil Company (PNOC) in full and absolute ownership for the nominal sum of One Peso: Provided,That, all locators, lessees and sub-lessees, now operating therein shall be allowed to continue with its usual business operations, transactions and activities as authorized by law subject to such rules and regulations as PNOC may prescribe. The Bureau of Lands shall survey and fix the permanent boundaries of the aforementioned parcel of land of the public domain.

SECTION 2. Purpose of Land Use. The PNOC shall manage, operate and develop the said parcel of land as an industrial zone and will establish, develop and operate or cause the establishment, development and operation thereat of petrochemical and related industries, as well as of businesses engaged in energy and energy-allied activities or energy-related infrastructure projects, or of such other business activities that will promote its best economic use, as determined by the PNOC Board of Directors, by itself or its subsidiaries or by any other entity or person it may deem competent alone or in joint venture: Provided,That, where any petrochemical or energy-related industry or any such other business as determined by the PNOC is operated by private entities or persons, whether or not in joint venture with the PNOC or its subsidiaries, the PNOC may lease, sell and/or convey such portions of the industrial zone to such private entities or persons.