As Prime Infrastructure took over the Malampaya gas-to-power project last November 1, it is now looking into opening additional gas fields within its exploration service contract. This will enable them to supply the needs of power plants if successful as it submitted its work program to the Department of Energy for license extension.
The Malampaya gas field off the coast of Palawan is the biggest commercial gas discovery in the Philippines according to the Department of Energy.
Prime Infra President and Chief Executive Guillaume Lucci said that their work program is consistent with the previous statements which is to extract as much gas as they can from Service Contract 38.
“There will be a number of wells drilled. We think two-operational wells as well as one exploratory well, at least. So probably two to three wells,” Mr. Lucci said in a media briefing.
Service Contract 38 covering the Malampaya Gas Field supplies 20% of the country’s power requirements and 27% of the Luzon grid. It is expected that the gas supply will be depleted by 2027.
Heavy investments are expected to be made by Prime Infra as they are targeting up to P55 billion on energy, water, waste management, and other projects and could hopefully contribute to the country energy needs.
Prime Infra acquired the stake previously held by Shell Philippines Exploration B.V. and is led by billionaire Enrique K. Razon, Jr.
