Razon firm to drill 3 new wells in Malampaya
By MYRNA M. VELASCO
Razon-led Prime Infrastructure Capital Inc. is scheduling the drilling of at least three wells to extend the production life cycle of the Malampaya gas field, once the project’s application for license extension is approved by the
Malampaya is a significant national wealth. Various reports have indicated that there are remaining hydrocarbons in the existing reservoir and near field areas, such as Malampaya East and Camago.
70:30 Malampaya royalty sharing dangled mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
Published May 20, 2021, 5:33 PM
Davao businessman Dennis Uy’s Udenna has been chosen as the buyer of the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in Malampaya, giving him ultimate majority control in the country’s commercial gas field.
In an announcement made by SPEX’s parent firm Royal Dutch Shell plc, it stated that its corporate vehicle Shell Petroleum N.V. signed an agreement with Uy’s Malampaya Energy XP Pte. Ltd., a subsidiary of Udenna Corporation for the purchase of the shares of Shell in the project.
The Malampaya gas field uses an innovative and sustainable deepwater technology for recovering natural gas from the deepwater reservoir in northwest Palawan. ( note: image from shell.com – google)
The Duterte administration is now on its last year stretch, but the government still cannot give a definitive timeframe on when the decision on the propounded license extension of the Malampaya project will be laid down.
“We don’t have final decision yet of the DOE (Department of Energy) and we’r