PRESIDENT Ferdinand "Bongbong" Romualdez Marcos Jr. has signed the Renewal Agreement for the Malampaya Service Contract No. 38 (SC 38). The 25-year production contract, which shall expire on 22 February 2024, has been renewed for a final 15 years or until 22 February 2039. This will allow for the continued production of the Malampaya gas field, ensuring that the remaining gas reserves are further explored and utilized.
Aside from continuing the production operations, the SC 38 Consortium is required to conduct a minimum work program consisting of geological and geophysical studies and the drilling of at least two deep water wells during the Sub-Phase 1 from 2024 to 2029. This firm work program is geared towards unlocking the potential both in the existing gas field and nearby prospect areas to provide incremental production.
Continue reading with one of these options:
Ad-free access
P 80 per month
(billed annually at P 960)
- Unlimited ad-free access to website articles
- Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)