Philippines: Malampaya Consortium Seeks Extension

The consortium which operates the Malampaya natural gas field in Palawan, is seeking an extension in the site license, Philippines Energy Undersecretary Jose M. Layug Jr. said.

The consortium, including Shell Philippines Exploration B.V., Chevron Malampaya and Philippine National Oil Co. - Exploration Corp., wants to extend the expiration date of license to 2039 from 2024.

"The consortium is finalizing its proposal for additional gas sales and for expansion of the compressed natural gas (CNG) bus project. We're waiting for that final proposal so hopefully in two to three weeks we will consider their application," Layug said.

The gas field was declared commercially operable in 2002 and is estimated to yield 2.7 trillion cubic feet of natural gas.

Source: Bworldonline.com