Shell, Chevron to Expand Malampaya Gas Project in Philippines
Royal Dutch Shell Plc (RDSA) and Chevron Corp. (CVX) are examining plans to expand the Malampaya natural-gas project in the Philippines.
The partners are negotiating the second and third phases of the project, which started pumping gas in 2001 to supply fuel for power generation at the Batangas plant.
They plan to “maximize the country’s clean energy resources” supply, Shell’s Chief Executive Officer Peter Voser told reporters on a conference call today.
The field, located in the province of Palawan, holds an estimated 2.7 trillion cubic feet of gas. The partners, which include the state-owned PNOC Exploration Corp. (PECB), may invest as much as $1.5 billion in the hunt for more reserves, Energy Secretary Rene Almendras said last week.
To contact the reporter on this story: Eduard Gismatullin in London at egismatullin@bloomberg.net
To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net
Rate this Page
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.