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Shell exits flagship Philippines gas asset in up to $460m deal

20 May 2021 10:37 GMT Updated  20 May 2021 10:37 GMT in  London Shell has agreed to sell its operating stake in the giant Malampaya gas field offshore the Philippines in a deal worth up to $460 million. Taking on the stake from the Anglo-Dutch supermajor is Malampaya Energy XP, a subsidiary of Udenna Corporation the latter a local company owned by Filipino tycoon Dennis Uy. Through the deal, Shell is divesting its 100% shareholding in Shell Philippines Exploration (Spex), which holds a 45% operating interest in Service Contract 38, which hosts the deep-water producing Malampaya field. ENERGY EXPLORED: SUBSCRIBE TO ACCELERATE Gain valuable insight into the global oil and gas industry s energy transition from

AG&P Construction Wins Over US$770 Million in Contracted Backlog

Press release content from Business Wire. The AP news staff was not involved in its creation. AG&P Construction Wins Over US$770 Million in Contracted Backlog April 15, 2021 GMT MANILA, Philippines (BUSINESS WIRE) Apr 14, 2021 Atlantic Gulf & Pacific Company (AG&P) and its subsidiaries are entering the second quarter of 2021 with a record backlog of contracted projects totaling over US$770 million covering various landmark initiatives in the Philippines, India, the US and elsewhere. The backlog includes work on behalf of five land or marine LNG terminals, a petrochemical complex, modularized oil refinery, an edible oil depot, a new LNG bunkering vessel and engineering for other maritime LNG applications. AG&P is also expected to secure additional projects in the LNG and power sectors within this year.

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