Enrique Razon-led Prime Infrastructure Capital Inc. has tapped former Shell Exploration B.V (SPEX) managing director Sebastian Quiniones Jr. to become the general manager of its upstream oil and gas business, Prime Exploration Pte. Ltd.
Prime Infra president and CEO Guillaume Lucci said that Quiniones’s “deep industry expertise and unparalleled experience” will ensure that a “critical power asset is steered to further development and progress.”
Quiniones took his position as Prime Exploration’s general manager on August 17.
The acquisition is still subject to the consent of the Philippine National Oil Company – Exploration Corp. (PNOC-EC) and the Department of Energy (DOE). Energy secretary Raphael Lotilla said that he will leave the PNOC-EC to resolve the issues regarding the Malampaya sale.
Prime Infra said that once consent is given for the full ownership of SPEX’s shares, Quinones will work on fulfilling Prime Infra’s vision of accelerating investments for the expansion of the Malampaya project.
Malampaya’s Service Contract (SC) 38 is set to expire in February 2024. The gas field, which accounts for 20% of the country’s total power requirements, is seen to be completely depleted by the first quarter of 2027.
Quinones served as SPEX managing director and asset manager from 2009 to 2016. He oversaw the upgrade of Malampaya’s assets including two new production wells, a depletion compression platform, and upgrades on the shallow water platform and on-shore gas plan.
Photo from Pilipinas Shell Foundation’s website
