More Gas may be found near Malampaya

I was about to post this article when it was quickly overtaken by news a day later of how Dennis Uy’s Udenna Corporation. had gone on and bought Chevron’s 45% stake in the Malampaya Oil and Gas Field instead of Manny V. Pangilinan’s group.

However, it still contained some vital information, first of which is that before the Udenna-Chevron transaction, the Philippines’ stake in Malampaya really was only 10%, owned by the Philippine National Oil Corporation (PNOC).

Malampaya is expected to be depleted by 2024-2027, but more Gas may be found near it. If Gas is indeed found near Malampaya, the plan is to connect a Pipeline to it from the new Gas field so Malampaya can continue to operate despite the current Gas field being depleted.

SOURCE: MVP Group eyes Malampaya stake

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