PNOC sees high production rate from new Malampaya wells

By Bernadette E. Tamayo

Sep 26, 2023 12:06 am

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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