THE Philippine National Oil Company-Exploration Corp. (PNOC-EC) projected an "80 percent" production rate from the two new wells to be dug by the Malampaya consortium.
During a Senate finance subcommittee budget hearing last September 22, PNOC-EC President Franz Josef George Alvarez said the consortium, led by operator Prime Energy Resources Development B.V., will drill two new wells in 2025.
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