The firms comprising the Malampaya consortium are already preparing for fresh round of ‘capital expenditures call’ to bankroll their committed drilling of 2-3 wells as one of the major conditions in their 15-year contract extension, according to Energy Secretary Raphael P.M. Lotilla. “The...
Lopez-led First Gen Corporation has awarded its next cargo of liquefied natural gas (LNG) delivery to multinational fuel trading firm Trafigura Pte Ltd. Based on the awarded contract, Trafigura will have to supply one cargo LNG with a volume of roughly 154,500 cubic meters (m3) – which will be...
Prime Energy Resources Development B.V. has set a high standard for safety excellence in the energy industry. The subsidiary of Enrique Razon’s Prime Infrastructure Capital Inc. hit a milestone for its “Goal Zero” in over 22 years at the Malampaya Onshore Gas Plant (MOGP). Goal Zero is an act...
The Department of Energy (DOE) has ordered and deployed personnel to carry out physical inspection of the delayed liquefied natural gas (LNG) import facilities, as the snagged kick-off of their commercial operations have been triggering spikes in electricity rates being passed on to consumers....
The targeted mandatory pie for power supply agreements (PSA) anchored on gas-fed power generating facilities will just be confined to gas volumes that will be extracted from the Malampaya field, according to a ranking Department of Energy (DOE) official. Energy Undersecretary Rowena L. Guevara...
State-run Philippine National Oil Company- Exploration Corporation (PNOC-EC) has indicated to Congress that it is preparing for the drilling of two new wells at the Malampaya gas field in 2025. PNOC-EC Manager for Planning and Budget Department Alexis Dela Torre stated that the consortium-members...
The "gas aggregation" scheme being proposed by Prime Infrastructure Capital Inc. of the Razon group, will help soften electricity rates for consumers because the scheme will lessen the risk of gas plant-developers in their fuel procurements. This is according to ENEX Energy Corporation Chairman...
President Ferdinand "Bongbong" Marcos Jr. is expecting a more stable and cheaper energy prices for the Filipino people with the expanded development of Malampaya gas field and the blending of imported liquified natural gas (LNG). In a meeting with Prime Energy Resources Development in Malacañang,...
Despite fragmenting markets and the changing landscape for global gas commodity trading, the Department of Energy (DOE) indicated it may still opt for oil-linked pricing if Malampaya would yield new commercial gas discovery. According to Energy Secretary Raphael P.M. Lotilla, the pricing...
The Malampaya consortium led by field operator Prime Energy of the Razon group will cough up $600 million to $630 million in fresh capital outlay for the first phase of its committed work program that will include the drilling of 2-3 production wells. In a briefing with the media, Energy...
West Philippine Sea (Wikipedia) Maintaining Philippine presence in an oil-rich area is another advantage of the Malampaya service deal extension. Thus, said House Deputy Speaker and Batangas 6th district Rep. Ralph Recto, who hailed President Ferdinand "Bongbong" Marcos Jr.'s signing on Monday, May...
House Speaker Martin Romualdez (Speaker's office) The 15-year extension of the Malampaya Service Contract No. 38 (SC 38) will lead to the prevention of power outages and its undesirable economic repercussions. Thus, said House Speaker Martin Romualdez, who personally witnessed on Monday, May 15...
