Prime Energy Resources Development B.V. exceeded its target gas output for the second quarter in the Malampaya gas field.
The Prime Infrastructure Capital Inc. subsidiary said that it recorded 280 million standard cubic feet per day (MMSFCD) of gas sales, a 2.2% increase from the original target of 274 MMSFCD.
Prime Energy general manager Donnabel Kuizon Cruz said that the company looks to maintain a reliable supply of indigenous gas while exploring new sources in addressing the depletion of the Malampaya gas field.
The company said that the increased output was brought about by efficient maintenance activities and the integrity of the equipment which brought high sales that fulfilled high demand for gas in the summer months.
Malampaya is currently supplying four power plants of First Gen Corp. with a combined capacity of 2,011 megawatts (MW).
Following the renewal, the consortium will also conduct a work program that includes geological and geophysical studies and drilling of at least two deep water wells between 2024 and 2029. This would unlock the potential in the gas field and nearby prospect areas to provide the needed production.
SC38 is granted under the consortium of Razon-led Prime Energy Resources Development B.V., Dennis Uy’s UC38LLC, and the Philippine National Oil Company – Exploration Corp. (PNOC-EC).