Senator Sherwin Gatchalian asked the government to bid out the operatorship of the Malampaya natural gas project in northwest Palawan once the contract of the current operator ends in 2024.
“The contract will end by 2024. Everything will revert back to government. Meaning us, the Filipino people will enjoy all the revenues and profit coming out of Malampaya. On the other side of that, government will be operating the gas field,” Gatchalian, chairman of the Senate committee on energy, said during the Management Association of the Philippines virtual membership meeting with the topic Ensuring the Country’s Energy Security.
Shell Philippines Exploration B.V. is the operator of Service Contract 38 or the Malampaya gas project. Spex sold its entire 45-percent stake in SC 38 including operatorship to the Udenna Group through unit Malampaya Energy XP Pte. Ltd., subject to government review.
Spex has a pending request with the Department of Energy for the SC 38 contract extension.