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Prime Energy, in collaboration with the Department of Energy (DOE) and the Service Contract 38 (SC 38) consortium, is progressing with the next phase of the Malampaya service contract through the Bagong Pag-Asa exploration drilling.
This project is part of efforts to strengthen the Philippines’ energy security and sustainability.
Set to begin in 2025, Bagong Pag-Asa drilling would be the country’s first offshore exploration well in over a decade.
Manila Standard reported that this initiative aligns with the SC 38 renewal agreement signed last year by President Ferdinand Marcos Jr.
The consortium members—Prime Energy, Philippine National Oil Company-Exploration Corporation (PNOC-EC), UC 38 LLC, and Prime Oil and Gas Inc.—have committed to extensive drilling activities, including Malampaya Phase 4, aimed at delivering new gas by 2026.
The Bagong Pag-Asa and Malampaya Phase 4 were recognized as Energy Projects of National Significance (EPNS). Prime Energy has partnered with Noble Drilling to provide the drill rig and SLB for formation evaluation services, ensuring high technical standards for the exploration.
If commercially viable reserves are found at Bagong Pag-Asa, the company plans to drill additional appraisal and development wells within two to three years, integrating them into the Malampaya infrastructure. This approach aims to expand the nation’s indigenous energy capacity and secure long-term energy sustainability.
