Razon-led Prime Energy Resources Development B.V., the operator of the Malampaya deep water gas-to-power project, said it’s heading in the right direction to begin producing gas by the fourth quarter this yr following the finished drilling of one in every of the wells.
In a press release late Thursday, Prime Energy said it had a successful drilling, completion, and flow test of the Camago-3 well in offshore Palawan.
In keeping with the corporate, the Camago-3 well produced gas at rates reaching as much as 60 million standard cubic feet of gas per day, adding to the Malampaya’s remaining reserves.
The drilling of the well is a component of the $893-million Malampaya Phase 4 development campaign.
Prime Energy said that the invention within the Camago-3 is estimated to be roughly 2.5 times greater than the invention on the Malampaya East-1 announced earlier this yr.
“The one well alone effectively doubles the amount of gas that could be produced from Malampaya’s remaining reserves,” the corporate said.
Each wells are intended to increase the operating lifetime of the Malampaya gas field by roughly six years, helping make sure the continued supply of indigenous natural gas to the Luzon power grid.
The Malampaya consortium, led by Prime Energy in collaboration with three way partnership partners UC38 LLC, Prime Oil & Gas, Inc., and PNOC Exploration Corporation, continues to advance activities under the project on schedule.
After the completion of the 2 wells, the consortium is gearing up for the drilling of the Bagong Pag-asa exploration well, situated about 30 kilometers north of Malampaya.
If gas is confirmed, the well will undergo drill-stem testing to evaluate its production potential, Prime Energy said.
“The outcomes at Camago-3 further strengthen our confidence in Malampaya’s remaining resource potential,” the corporate said. “Along with the Malampaya East-1 gas discovery, this may deliver continued value of indigenous natural gas in ensuring a stable and reliable power supply for Filipino consumers.”
Malampaya Phase 4 has been certified as a project of national significance by the federal government. Since inception, the Malampaya project has generated greater than $14 billion in revenues for the Philippine government, while significantly reducing dependence on imported fuels. — Sheldeen Joy Talavera