President Marcos on Thursday, March 26, announced a major milestone in the country’s energy sector, saying the successful drilling of the Camago-3 well will help deliver cheaper and more reliable electricity to Filipinos.

In a video message, the President said Camago-3 can produce up to 60 million standard cubic feet of gas per day, marking the second major development under the $893-million Malampaya Phase 4 project.

“Today, I am proud to announce another step forward in our mission to secure affordable, reliable energy for every Filipino,” he said.

He noted that Camago-3 is significantly larger than the first well under the project.

Marcos said Camago-3 contains an estimated 2.5 times more recoverable gas than the earlier Malampaya East-1 discovery.

Combined, the two wells are expected to extend the life of the Malampaya gas field by around six years.

The President emphasized the impact of the project on electricity costs.

“Ano ang ibig sabihin nito para sa inyo? It means more power. Steadier power. And cheaper power (What does this mean for you? It means more power. Steadier power. And cheaper power),” he said.

He pointed out that Malampaya gas costs around P4.80 per kilowatt-hour, compared to P10.30 for imported liquefied natural gas.

“Every unit of power we generate from Malampaya instead of imported fuel is money saved by households, by small businesses, by every Filipino who pays an electricity bill,” Marcos said.

The President said the development comes at a crucial time as global fuel prices remain volatile due to the ongoing conflict in the Middle East.

“Alam nating lahat kung gaano kahalaga ito ngayon… ginawa natin ang lahat para masiguro na may sarili tayong supply ng enerhiya (We all know how important this is now… we are doing everything to ensure we have our own energy supply),” he said.

He stressed that strengthening domestic energy sources will help cushion the impact of global instability on Filipino consumers.

Marcos also highlighted ongoing efforts to upgrade the country’s energy infrastructure.

For the first time since 2000, new subsea pipelines are being laid in Philippine waters to transport gas from offshore sources to homes and businesses.

“Ibig sabihin, may bagong tubo na itatanim sa ilalim ng dagat… We are not just extending a gas field. We are rebuilding our energy infrastructure from the ground up (This means new pipelines will be laid under the sea… we are rebuilding our energy infrastructure from the ground up),” he said.

The government is targeting the first gas delivery from the project by the fourth quarter of 2026.

Marcos said further developments are already in the pipeline, including the Bagong Pag-asa well, located about 30 kilometers north of Malampaya.

“This is indigenous energy. It is ours. This is our future,” the President said, underscoring the administration’s push to protect Filipinos from rising global fuel costs.