MANILA : Philippine President Ferdinand Marcos Jr. on Monday signed an agreement extending the production contract for the country's Malampaya natural gas block by 15 years and allowing the operator to drill new wells as it seeks to boost output. The Malampaya gas field off Palawan province, in an area of
MANILA : Philippine President Ferdinand Marcos Jr. on Monday signed an agreement extending the production contract for the country's Malampaya natural gas block by 15 years and allowing the operator to drill new wells as it seeks to boost output.
It had also fuelled San Miguel Corp.'s 1,200 MW Ilijan power plant until a supply contract expired last year. "As we renew, we optimistically look forward to the continued production and utilization of the remaining reserves of the Malampaya gas field, as well as further exploration and development of its untapped potential," Marcos said in a statement.
The company is also seeking other fields around Malampaya to ensure long-term gas output, chief executive Guillaume Lucci told Reuters in March.
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