PNOC bullish on prospects for new Malampaya wells • Lenie Lectura

The Philippine National Oil Co.-Exploration Corp. (PNOC-EC) is upbeat about the prospects for the new wells that would be drilled by the Malampaya consortium, citing a success rate of around 80 percent. At a budget hearing of the Senate sub-finance committee last September 22, PNOC-EC President Franz Josef George Alvarez said the consortium—led by operator

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