At the PowerTrends forum, Wednesday, Feb. 8, Prime Infra President and CEO Guillaume Lucci indicated that their Malampaya operating firm “will produce new gas from the new wells before 2026.”
The existing license for the Malampaya field will expire by February 2024 and the Philippine government has yet to render decision on Prime Energy’s bid on stretching the service contract for the gas field project. The Malampaya consortium comprised of Prime Energy as the operating entity; then UC38 of Uy-led Udenna Corporation as major-shareholder with 45-percent equity, while state-run Philippine National Oil Company-Exploration Corporation is minority shareholder with 10-percent stake in the project.
“We are not sure yet because that will depend on assessment and evaluation and exploration – the 3D seismic survey and all others…we’re still reviewing the contract, whether to extend it or not,” he stressed.
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