<\/p>\n
RAZON-LED Prime Energy Resources Development B.V., operator of the Malampaya gas field, said it’s exploring potential areas beyond the country\u2019s most important natural gas source to assist firm up power supply.<\/span><\/p>\n Prime Energy President and Chief Executive Officer Donnabel Kuizon-Cruz said the corporate is studying opportunities to explore additional blocks except for Malampaya.<\/p>\n \u201cWe were still taking a look at other blocks that we could potentially explore. So we\u2019re not focused on only one area. And naturally, yearly, we refresh our work program budget to see where we would like to go next,\u201d Ms. Kuizon-Cruz told reporters on Tuesday.<\/p>\n The Malampaya consortium \u2014 composed of Prime Energy Resources Development B.V., UC38 LLC, Prime Oil & Gas, Inc., and state-owned PNOC Exploration Corp. \u2014 is undertaking an $893-million Malampaya Phase 4 (MP4) project to increase the lifetime of the gas field.<\/span><\/p>\n The Malampaya Deep Water Gas-to-Power Project spans 337,676 hectares offshore Palawan and supplies as much as 13% of Luzon\u2019s electricity requirements.<\/p>\n Prime Energy earlier said it had accomplished drilling and testing two wells \u2014 Malampaya East-1 (MAE-1) and Camago 3 \u2014 confirming the presence of natural gas reserves.<\/p>\n MAE-1, positioned about five kilometers east of the prevailing Malampaya field, is estimated to contain about 98 billion cubic feet of gas, while Camago 3 is estimated to carry as much as 60 billion cubic feet of gas.<\/span><\/p>\n The corporate said these wells could extend the operating lifetime of the Malampaya gas field by about six years, supporting continued supply of indigenous natural gas to the Luzon grid.<\/p>\n \u201cWe\u2019ve tested these wells and we\u2019ve proven there\u2019s gas that we will produce to take care of the Malampaya plateau for not less than six years. In order that is already a significant milestone,\u201d Ms. Kuizon-Cruz said.<\/p>\n \u201cAnd now, immediately after that, we\u2019ve began laying the pipes that will connect these wells to the platform,\u201d she added.<\/p>\n Following the completion of the 2 wells, the consortium is preparing to drill the Bagong Pag-asa exploration well, positioned about 30 kilometers north of Malampaya.<\/p>\n Ms. Kuizon-Cruz said the corporate stays on course to deliver first gas from the MP4 development by the fourth quarter of 2026.<\/p>\n \u201cIt\u2019s on course. It\u2019s going thoroughly to this point. So so long as we proceed on this track, we remain on schedule. We should always have the ability to satisfy the Q4 2026 promise,\u201d she said.<\/span><\/p>\n The MP4 project has been certified by the federal government as a project of national significance. Since its inception, the Malampaya project has generated greater than $14 billion in revenues for the federal government and reduced reliance on imported fuels. \u2014 Sheldeen Joy Talavera<\/b><\/span><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" BW FILE PHOTO RAZON-LED Prime Energy Resources Development B.V., operator of the Malampaya gas field, said it’s exploring potential areas beyond the country\u2019s most important natural gas source to assist firm up power supply. Prime Energy President and Chief Executive Officer Donnabel Kuizon-Cruz said the corporate is studying opportunities to explore additional blocks except for […]<\/p>\n","protected":false},"author":1,"featured_media":319444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[4771,939,1570,6021,38380,3767],"class_list":["post-319443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blocks","tag-energy","tag-eyes","tag-gas","tag-malampaya","tag-prime"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/319443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/comments?post=319443"}],"version-history":[{"count":2,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/319443\/revisions"}],"predecessor-version":[{"id":319446,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/posts\/319443\/revisions\/319446"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media\/319444"}],"wp:attachment":[{"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/media?parent=319443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/categories?post=319443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ebiztoday.news\/index.php\/wp-json\/wp\/v2\/tags?post=319443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}