Manila (26 October) -- The possibility of a bilateral development of geothermal areas in the country received a big boost when officials from the Republic of Iceland and its top geothermal firm paid a courtesy call on President Gloria Macapagal-Arroyo in Malacanang this afternoon.

The President welcomed Iceland Minister of Industry Ossur Skarphedinsson who brought along officials of the Reykjavik Energy, an Iceland-based company which is the world's leading authority in the utilization of geothermal energy.

Accompanying Minister Skarphedinsson are non-resident Ambassador of Iceland Thordur Oskersson, Honorary Consul of Iceland Ambassador Antonio del Rosario Sr., Reykjavik Energy Invest (REI) Chairman Bjarni Armansson, and REI Managing Director Gudmundur Sigurjonsson.

Among those present were Department of Energy (DOE) Secretary Angelo Reyes, DOE Assistant Secretary Francisco Delfin Jr., and Philippine National Oil Company (PNOC) President Antonio Cailao.

"We are happy to have you here. We are two of the biggest producers of geothermal energy," the President said.

At present, the Philippines ranks second while Iceland ranks eighth among the world's largest producers of geothermal energy.

Over the past 60 years, however, Iceland has the leading technology in producing geothermal energy and supplies a large portion of the Icelandic population with geothermal water for domestic heating and gradually developing new steam fields for power production.

Minister Skarphedinsson said they want to bring in Iceland's expertise and REI is currently focusing on creating possible partnership to develop geothermal areas in the Philippines.