As it nears depletion, the Malampaya gas field was only able to produce 79.054 billion cubic feet (bcf) of natural gas in 2021, a huge decline from the 141.732 bcf recorded in 2020, data from the Department of Energy (DOE) said.
DOE said that 76.040 bcf of Malampaya’s output in 2021 was supplied to power plant-off takers while 15 million standard cubic feet were supplied to industrial buyers.
Based on the energy department’s data, Malampaya reached its peak production in 2019 with 155.495 bcf. Production has declined since 2020.
Numerous questions were raised over the ownership of the Malampaya when Dennis Uy’s Udenna Corporation acquired 45% of the gas field from Chevron in March 2021, which the DOE approved in 2021. A month later, Udenna announced the purchase of the other 45% from Shell Philippines Exploration B.V.
In recent developments, Enrique Razon-led Prime Infra Holdings said that it is poised to acquire a controlling stake in Malampaya from Udenna.
With Malampaya’s Service Contract 38 expiring in 2024, Prime Infra looks to apply for an extension to invest in expansion.
The Department of Energy (DOE) has welcomed the Razon company’s possible entry into the Malampaya.