Malampaya Phase 4 Wells on Track for Q4 Production

Prime Energy Resources Development B.V. announced on Tuesday that it is on track to bring the Malampaya Phase 4 wells into production by the fourth quarter of this year.

The company, which operates Service Contract 38 (SC 38) for the Malampaya deepwater gas-to-power project, welcomed President Ferdinand Marcos Jr.'s recognition of the gas field's contribution to the country's energy security.

Prime Energy stated that the extension of SC 38 provided the regulatory certainty needed to resume exploration and drilling activities in Malampaya. The company also thanked the Department of Energy for its support in bringing the Phase 4 wells into production.

The Phase 4 wells, namely the Malampaya East-1 and Camago-3 wells, are expected to deliver first gas later this year. The recently drilled wells under the Malampaya Phase 4 project, including the soon-to-be drilled Bagong Pag-asa 1 well, are estimated to hold a combined 222 billion cubic feet of natural gas.

The additional wells are expected to extend the operational life of the Malampaya gas field by about six years. In his State of the Nation Address on Monday, Marcos recognized the Malampaya gas field as a key pillar of the country's energy security, describing the latest natural gas discovery under the Phase 4 wells as a 'national treasure' that would help sustain indigenous energy production for years to come.