‘Midnight deal’
The Department of Energy (DOE) has been cautioned on granting a ‘midnight deal extension’ for the license or the Service Contract 38 of the Malampaya venture.
Senator Sherwin T. Gatchalian, chairman of Senate committee on energy, issued this caution given that by the time the Malampaya Energy XP Pte. Ltd.- Shell Philippines Exploration B.V. (MEXP-SPEX) deal will be firmed up, the remaining office term of the Duterte administration will just be roughly 5-6 months.
Senator Sherwin Gatchalian (MANILA BULLETIN FILE PHOTO)
This also developed as the MEXP of the Udenna Group has been prodding government on the urgency of new oil drilling that it must be allowed to carry out at the gas field even if it has yet to close its acquisition of the 45-percent stake of. (SPEX) by yearend.
Udenna admits Malampaya gas deficiency, plans to drill new wells
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Philippine Tycoon Dennis Uy Gains Controlling Stake In Malampaya Gas Field
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