Burgundy Global Exploration Corporation (BGEC) is an independent energy company. The company is principally engaged in the exploration and development of oil and gas resources. In the year 2008, BGEC had enetered in partnership with UNION FENOSA, S.A., to jointly explore 1.3 million hectares in the Sulu sea for oil and gas. The exploration area is located near the islands of Sabah and Palawan and consists of billions of barrels of oil and gas equivalent. Recently, Transocean Inc. had terminated the contract with BGEC for utilization of semisubmersible. The Camago-Malampaya oil leg is a joint venture project executed with BGEC having 84.9% ownership and Philippine National Oil Company Exploration Corp. ((PNOC-EC) with 15.1%. BGEC is headquartered in Makati City, Philippines.