President Ferdinand R. Marcos Jr. recently met with Prime Energy Resources Development B.V. to discuss the operation of the Malampaya gas field and liquefied natural gas (LNG) blending.
During a meeting held on July 5, specific plans were discussed regarding Prime Energy’s offshore exploration to locate gas prospects and increase the supply of production.
Prime Energy will oversee Malampaya Service Contract (SC) No. 38 until February 2039.
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The agreement between the national government and Prime Energy to continue the offshore operation of the Malampaya gas field aims to reduce the Philippines’ dependence on oil imports in the coming years.
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