Is this the same bike you posted about last year, that you were dissolving the seat post? The color is different.
http://www.bikeforums.net/classic-vi...e-roadman.html
The bike you have pictured in this thread looks to have a single pivot front brake and a dual pivot rear. If you could find a dual pivot for the front it would increase your braking power a bit. I tour loaded on bikes as old as this, but replace the brakes with something like a tektro dual pivot. Works fine.
I would leave the shifters alone, or else get some bar ends with a strap on cable stop. You will need a cable stop since the existing shifter mount will not work for that.
You might think about getting a better wheelset for it, a far better expense than new shifters. When going from 27" to 700, check to see if the brakes you have or any you might get will fit the slightly smaller diameter, only a couple of centimeters. Some will say that a new rear wheel will be to wide, but a 130mm rear axle should work. Measure the rear dropouts, if they are 125mm its not a huge problem, but if its 120mm, you would have to spread the rear. There are multiple internet tutorials on how to do this. A new wheelset should take a cassette rather than a freewheel, and there are far more options for better gearing with a cassette.
If you are determined to keep the 27" wheels, then make sure you can find them where you will be touring. I don't know the availability of 27's in the Philippines. Here in the states they can be hard to find, but I still use a couple of bikes that have them. Also if you keep the 27's and need a freewheel for lower gearing, you can get the Mega range freewheel with a jump from a 28 tooth to a 32 or even 34 pretty cheap. There are freewheels still made with better jumps to 32 teeth, but they are harder to find and pricier.
You really do want to get the gearing lower with a triple front, but thats going to involve a lot of work. A Shimano square taper bb
https://www.amazon.com/Shimano-BB-UN.../dp/B007FP6NB8 with a cheap mountain bike triple is the most economical option. Of course you may need new derailleurs, its hard to tell from the pics what is on it now. The rear may work, but the front may need to be changed if you put a triple on it. The easiest way to get some lower gears may be to just get a bigger freewheel like the mega range, and simply walk up any hills you cant pedal up.
There are lots of options for extra water bottles, one thread active on this forum has a link for mounts. I have used the old hose clamp technique myself with no real complaints, its a lower budget option.
Its a cool bike, and it could be made into a tourer, but it may be expensive to do it well, unless you have access to knowledgeable people with cheap or used parts. It may be best to ride this without going to to much hassle, and just constantly keep on the lookout for an old mountain bike or something that will take less work.