PRIME Energy Resources Development B.V. has secured certification as an Energy Project of National Significance (EPNS) from the Department of Energy (DOE) for the phase 4 of the Malampaya deep water gas-to-power project.
Projects conferred with EPNS certifications are provided with faster regulatory approvals.
“The acceleration of Malampaya Phase 4 is critical to ensuring energy security and preventing potential power shortages in the future,” said Donna Kuizon Cruz, Prime Energy president and chief executive officer, in a statement yesterday.
Malampaya Phase 4 will involve the drilling of the Camago and Malampaya East production wells apart from the Bagong Pag-asa exploration well in a bid to mitigate the Philippines’ reliance on imported fuels.
Cruz said indigenous natural gas is the cleanest, most climate-resilient fossil fuel for power generation, supporting the transition to a low-carbon economy.
The Malampaya project is operated under Service Contract No. 38 by consortium partners UC38 LLC, PNOC Exploration Corp. and Prime Oil and Gas Inc.
As the country’s pioneering indigenous gas project, Malampaya has so far contributed over $13.8 billion to the Philippine government since its commercial operations began.
The natural gas resource fueled as much as 40 percent of Luzon’s energy demand at its peak and continues to power about 20 percent of its current requirements.
