Prime Energy Resources Development B.V. (Prime Energy) has granted a contract to One Subsea, a US firm subsidiary of the Schlumberger group, for the equipment supply for the extended Malampaya project’s phase 4 drilling.
In a report by Manila Bulletin, Prime Energy said that the equipment, which includes wellheads, control equipment, and a subsea production system, will be used to drill and tie in two new deepwater wells in the Camago and Malampaya East fields to the Malampaya shallow water platform.
The gas field operating company also emphasized that the drilling program will commence next year.
The equipment is set for delivery by the end of 2024, with the contract amount undisclosed at present. Potential commercial discovery yield for the drilling project could lead to increased gas production from Malampaya starting in 2026.
Prime Energy discloses plans to drill the Bagong Pag-Asa third well in the coming year, reiterating that the exploration venture, located about 15km from Malampaya, will determine the presence of oil and gas to extend indigenous gas flow for the Philippines.
The gas exploration firm is anticipating awarding major contracts soon for a deepwater drilling unit, specialized pipeline manufacturing, and integrated well services, pending approval from consortium partners UC38 LLC of the Udenna Group and the Philippine National Oil Company-Exploration Corporation (PNOC-EC).
Prime Energy shared that an external independent review confirmed the project’s schedule estimate as sound, signaling the commencement of a renewed cycle of exploration and development activities by SC38.
