Latest news with #MalampayaPhase4
GMA Network
15-07-2025
- Business
- GMA Network
Malampaya Phase 4 drilling underway
Malampaya Phase 4 development is expected to help stabilize electricity costs while complementing the government's long-term goal of increasing renewable energy usage across the country. (Photo: Presidential Communications Office) The Department of Energy (DOE) on Tuesday confirmed that drilling operations for the Malampaya Phase 4 Project are now in full swing, with the aim of ensuring energy security. Energy Secretary Sharon Garin said the project involves the drilling of three new wells—Camago-3, Malampaya East-1, and Bagong Pag-asa-1. 'Malampaya is 23 years old and used to supply 40% of Luzon's electricity demand. That has since gone down to 20% as reserves have dwindled,' said Garin during a press briefing in Malacañang. She said that President Ferdinand Marcos Jr. conducted a flyby inspection of the site on July 14 to oversee progress and express support for the initiative. Garin explained that drilling is being carried out by a vessel named Noble Viking, which arrived a few weeks ago. Each well will be drilled at a depth of around 3 kilometers, with results expected later this year. 'We are hopeful, especially with Bagong Pag-asa. It's still a prospect, but it looks promising,' she said. The Malampaya gas field has been a key supplier of natural gas to Luzon since it began operations in 2001. It powers homes, hospitals, and schools—but declining reserves have prompted government efforts to extend its life and tap new wells to secure affordable and stable electricity. Phase 4 development is expected to help stabilize electricity costs while complementing the government's long-term goal of increasing renewable energy usage across the country. 'This is an indigenous resource,' Garin said. 'Even if there are wars elsewhere in the world, we can protect ourselves because this is ours—and we can manage the prices and supply ourselves.' —VBL, GMA Integrated News
GMA Network
14-07-2025
- Business
- GMA Network
Marcos optimistic on finding further energy reserves at Malampaya gas field
President Ferdinand ''Bongbong'' Marcos Jr. on Monday expressed optimism on finding ''further'' energy reserves at the Malampaya gas field. Marcos mentioned this at the start of his speech during the groundbreaking ceremony of the Caticlan Passenger Terminal Building in Nabas, Aklan. He mentioned the presence of Energy Secretary Sharon Garin at the event. ''Energy Secretary Sharon Garin, who is with us today because after here, we are going to fly by the rig in Malampaya that is now slowly drilling down into the seabed with a reasonable chance of success of finding further reserves...," Marcos said. In October of last year, Razon-led Prime Energy Resources Development B.V.'s plan to drill new deepwater wells at the Malampaya gas field received a certification, which will pave the way for faster regulatory approvals of the project. The firm said that the Malampaya Phase 4 project has secured the Energy Project of National Significance (EPNS) certification from the Department of Energy. This certification refers to major energy projects that are in consonance with the policy thrust and implementation of the Philippine Energy Plan (PEP). The Malampaya Phase 4 entails the drilling of the Camago and Malampaya East production wells and the drilling of the Bagong Pag-asa exploration well. The planned drilling and development would require an investment of more than $600 million. So far, Malampaya has contributed over $13.8 billion to the Philippine government since its commercial operations began in 2001. It supplies about 20% of Luzon's electricity needs and has significantly contributed to the nation's energy independence since 2001. —KG, GMA Integrated News
