The consortium operating the Malampaya deepwater-to-gas power project off Palawan is keen on pouring more investments to develop the gas field even as it completes an additional $1-billion capital outlay to sustain gas production.
Filinvest Development Corp. plans to diversify into the power generation sector by helping build a power facility that is expected to cost as much as $450 million, or roughly P19.35 billion. According to sources privy to the matter, Filinvest of the Gotianun group is now negotiating with other companies to form a consortium that will [...]
The consortium operating Service Contract 55 off Palawan expects to drill an exploration well next year to test the prospects of the field estimated to contain 1.8 trillion cubic feet of gas and 567 million barrels of oil.
