Section 3Republic Act No. 5092 and other laws relating to the promotion and regulation of the exploration, exploitation and development of geothermal energy, natural gas and methane gas are likewise transferre, Sec./Art. 3

Powers and Functions of the Board. The Board shall have the following powers and functions:

(a) Formulate policies and implement and coordinate all activities of the government relative to the exploration, exploitation and development, and extraction of energy resources including fossil fuels such as petroleum, coal, natural gas and gas liquids; geothermal resources; nuclear fuel resources; and other less conventional existing and potential forms of indigenous energy resources;

(b) Establish and administer a comprehensive and integrated program for the exploration, exploitation, development, and extraction of fossil and nuclear fuels, geothermal resources, and other less conventional forms of indigenous extracted energy resources;

(c) Undertake by itself or through other arrangements, such as service contracts, the active exploration, exploitation, development, and extraction of energy resources in selected areas and/or in government reservations;

(d) Regulate all activities relative to the exploration, exploitation, development, and extraction of fossil and nuclear fuels and geothermal resources and, where necessary, prescribe and collect fees in the exercise of such power;

(e) Assess, review and provide direction to energy research and development programs including identification of sources of energy and determination of their commercial feasibility for development;

(f) Exercise the powers and functions of the abolished Petroleum Board transferred to the Board under Section 5 of this Decree;

(g) Coordinate, review and approve plans and programs of the Power Development Council which is hereby attached to the Board;

(h) Promulgate such rules and regulations as may be necessary to implement the objectives and provisions of this Decree; and

(i) Exercise all powers necessary or incidental to attain the objectives of this Decree.