Shell Philippines Exploration B.V., the operator of the multi-billion Malampaya gas field project, bagged anew the Philippine Extractive Industries Transparency Initiative (PH-EITI) Award for “excellence in reporting’ under the oil and gas category.

That recognition had been bestowed on SPEX for being among the companies that submitted “the best and most comprehensive data,” with least discrepancy after the reporting and reconciliation process carried out by PH-EITI.

The award to the company was handed over by Finance Undersecretary Bayani Agabin in last year’s national conference, wherein the key findings of the 6th PH-EITI Report for Fiscal Year 2018 on Synergizing Transparency for Sustainability, had been presented.

In a statement to the media, it was emphasized that “the Annual Transparency Awards recognizes outstanding performance of national government agencies, local government units, companies and civil society organizations in the implementation of IETI in the Philippines,” as well as in advancing transparency in extractive industries.

As noted by Malampaya Operations Manager Monet Soriao, “for about 21 years now, all facets of our work have always been anchored on honesty and integrity – be it a small transaction or a substantial one, we always ask all our employees, contractors and vendors to comply with the law regardless of the situation.”

While wading through the extreme snags precipitated by the health crisis last year, Soriao likewise asserted that “SPEX hurdled time and distance restrictions brought about by the Covid-19 pandemic to continuously adhere to numerous pronouncements, issuances and protocols of government agencies during the different quarantine phases.”

The SPEX executive added “we ensure that we strictly comply with government-mandated regulations and protocols, that we pay correct taxes and we remain mindful of the needs of local communities and the environment.”

Soriao further said “this recognition shows that in addition to powering Philippine progress, SPEX ensures that the extraction of the Malampaya natural gas translates not only to cleaner electricity for the country, but also the generation of significant revenues to the government that it can use for sustainable development.”

Since the start of the Malampaya field’s operation in 2001, it has been reported that the project already remitted more than US$11 billion revenues to the Philippine government.

The PH-EITI Awards is being administered by a multi-stakeholder group chaired by the Department of Finance (DOF); and has membership-representations from the Department of Energy, Department of Environment and Natural Resources (DENR), Department of Interior and Local Government (DILG), the Union of Local Authorities of the Philippines, Chamber of Mines of the Philippines, Petroleum Association of the Philippines; and civil society group Bantay Kita-Publish What You Pay Philippines.