Prime Energy Resources Development B.V. has exceeded its target output in the second quarter of the year, citing efficient maintenance activities and integrity of equipment in the Malampaya gas-to-power project.
The company said energy production and supply to customers exceeded target with gas sales in the quarter reached 280 million standard cubic feet per day (MMSCFD) against a target of 274 MMSCFD.
“…We intend to maintain a reliable supply of indigenous gas to our customers while we continue the hard work of exploring for new sources to address the natural decline of the Malampaya gas field. We remain committed to being the partner of choice in providing energy sufficiency and security to the country,” said Donnabel Kuizon Cruz, Prime Energy general manager, in a statement.
Malampaya supplies natural gas to power four generation plants in Batangas, with a combined capacity of 2,011 megawatts.
In a separate statement, the Department of Energy (DOE) said the extension of the Malampaya service contract (SC) 38 will lead to more gas and energy projects to further make electricity more reliable, stable and affordable in the country.
The agency said in a report the contract extension until February 2039 is a key indicator of progress in the development of the natural gas industry in the Philippines as it allows full production of the Malampaya field through full utilization of its remaining gas reserves of about 147 billion cubic feet.
The DOE added this would jump-start the exploration and development of other fields in the area believed to hold up to 210 billion cubic feet more of natural gas. – Jed Macapagal
