Feb 24, 2013

Malampaya Gas Consortium Pays $1.1B Royalties

The Malampaya consortium on Thursday paid the government $1.1 billion in royalties from the deep water gas-to-power project in offshore Palawan.

A symbolic check was presented by the Malampaya joint venture partners, led by Shell Philippines Exploration Corp., to Finance Secretary Cesar V. Purisima.

“Malampaya continues to benefit the country by providing much needed government revenue, and clean energy to power the lives of millions of Filipinos,” said SPEX managing director Sebastian Quiniones.

The consortium intends to pursue the development of the Malampaya gasfield by drilling two more product wells and installing a second platform for additional compressors, Quiniones noted.

The Malampaya gas field supplies 2,700 megawatts or 45 percent of Luzon’s power requirements.

A joint venture of the national government and private sector partners under Service Contract No. 38, the project is spearheaded by the Department of Energy with lead partner SPEX as developer and operator on behalf of Chevron Malampaya LLC and PNOC Exploration Corporation.


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