The move comes against the backdrop of a six-year low in global crude prices, however government officials denied that the decision was because of a lacklustre response so far to the round.

Energy Secretary Carlos Jericho Petilla said there were seven companies that had already purchased datasets.

International players that have already expressed interest include Chevron, Total, ConocoPhillips, Petronas and Roc Oil, according to Energy Undersecretary Zenaida Monsada.