2025 is projected to be an upside year for Lopez-led First Gen Corp. (FGen), as it anticipates a financial rebound throughout the year. On the sidelines of a signing ceremony between FGen and Singapore’s Digital Edge, Giles Puno, president and chief operating officer of FGen, expressed optimism...
State-run Philippine National Oil Company (PNOC) is seeking the allocation of P6.02 billion supplemental budget so it can have ready financial capacity to cough up investment in case one of the consortium-members in the Malampaya gas field project would face snags in its capital contribution to the...
The Department of Energy (DOE) will be rescinding its order mandating the conduct of joint competitive selection process (CSP) for the electric cooperatives (ECs) in their aggregated procurement of capacities from gas-fired power facilities. According to Energy Undersecretary Sharon S. Garin,...
The consortium-members of the Malampaya gas field will inject up to $800 million worth of investments to stretch the facility’s production life cycle, as anchored on the 15-year extension granted by the government on the project’s Service Contract (SC) 38. As emphasized by Prime Infrastructure...
Malampaya project operator Prime Energy Resources Development B.V. has awarded $69.9 million worth of contract to American firm Noble for the planned drilling of at least three new wells in the aim to reinforce gas production at the depleting field. On the company’s announcement, it indicated...
Gas field operator Prime Energy Resources Development B.V. (Prime Energy) has announced the award of a contract to US firm subsidiary One Subsea of the Schlumberger group, for the supply of equipment for phase 4 drilling in the extended Malampaya project. The supply of equipment, according to the...
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...
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...
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...
President Ferdinand "Bongbong" Marcos Jr. has renewed his administration's commitment to ensuring energy security in the country [as he signed the renewal agreement for the Malampaya Deep Water Gas-to-Power Project](https://mb.com.ph/2023/5/15/marcos-signs-malampaya-sc-renewal-agreement). *President...
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....
