Pangilinan-led PXP Energy Corporation has formally secured the approval of the Department of Energy (DOE) for the relinquishment of its interest in a petroleum block in the Northwest Palawan basin that was previously awarded under Service Contract (SC) 74. “The DOE has approved the surrender of...
Razon-led Prime Energy is sorting out ‘rigorous routine maintenance inspections’ and plant shutdowns at the Malampaya facility as a preparatory step for planned fresh round of exploration and drilling activities for the extended production life cycle of the gas field. “For a facility with...
The Department of Energy (DOE) has been in talks with the consortium-members of the Malampaya gas field project on prospects of retaining the oil-linked gas pricing formula in the targeted new gas sale and purchase agreements (GSPAs) that shall be cemented for the 15-year service contract extension...
Following the 15-year renewal of the Service Contract 38 for the Malampaya project, Razon-led operator firm Prime Energy can already carry out exploration drilling activities beyond the existing production area of the depleting gas field. This developed after President Ferdinand R. Marcos Jr....
The government is expecting P492.4 billion worth of investments if the oil and gas service contracts (SCs) to be awarded under the Philippine Conventional Energy Contracting Program (PCECP) designed by the Duterte administration will eventually reach commercial development and production phases....
Ayala-owned upstream petroleum firm ACE Enexor Inc. has kicked off its search for a deep-pocketed and technically experienced partner for its planned oil and gas exploration venture at an offshore block in Northwest Palawan. ACE Enexor Chairman and CEO Eric T. Francia “We’re beginning to...
The remaining potential yield of the Malampaya gas production facility could go as high as 1.6 trillion cubic feet (TCF), or half of the current capacity of the field that is now being funneled for the requirements of more than 3,200 megawatts of gas-fired power capacities in the country. That has...
Pangilinan-led PXP Energy Corporation is seeking the imprimatur of the Philippine government as to the next steps it must pursue relative to its joint exploration deal with China National Offshore Oil Corporation (CNOOC) for oil and gas exploration at the Recto Bank offshore northwest Palawan...
Anchoring it on the ‘right to match’ provision of the joint operating agreement (JOA) under Service Contract (SC) 38, Energy Secretary Alfonso G. Cusi indicated that Udenna Corporation of businessman Dennis Uy may likely have an edge in acquiring the 45-percent stake being unloaded by Shell...
Pangilinan-led firm PXP Energy Corporation indicated that it already received formally the ‘resume-to-work’ notice form the Department of Energy (DOE), allowing it to recommence extended seismic survey and exploration activities at its Service Contract (SC) 72 within the Recto Bank area along...
