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$756M Malampaya rig going up in Subic

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NEW MALAMPAYA PLATFORM  Nathan Stephenson (left) of the Malampaya Phase 3 project briefs European Union delegates visiting the Keppel Shipyard in Subic, Zambales province, which is fabricating the second platform for the Malampaya gas field off Palawan province. The platform will be installed in 2015 to help sustain production in Malampaya, which supplies natural gas to three power plants producing about half of Luzon’s power needs.  RAFFY LERMA

A platform of the Malampaya Deep Water Gas-to-Power Project off Palawan province is to be installed next year to maintain fuel supply to power plants providing about half of Luzon’s electricity needs. The platform, worth $756 million (P33.68 billion), is part of Phase 3 of the Malampaya project.

Posted: February 21st, 2014 in Featured Gallery,Headlines,Latest Business Stories | Read More »

Oil found off Cebu; more tests needed

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cebu-city

An Australian firm’s recent discovery of oil in Cebu gives the Philippines additional energy prospects, the Department of Energy (DOE) said, cautioning, however, that it remained to be seen if the oil find is substantial.

Posted: January 10th, 2014 in Latest Business Stories | Read More »

Malaysian firm may lose Sulu petrol contract

Malaysian conglomerate Ranhill Berhad may lose its petroleum exploration contract in the Sulu Sea with the Department of Energy (DOE) for failing to follow strict work timelines.

Posted: December 31st, 2013 in Headlines | Read More »

Otto Energy to acquire BHP Billiton’s stake in SC 55

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Otto_Energy

Australian firm Otto Energy Ltd. has executed a letter of intent to acquire the 60-percent stake of BHP Billiton in Service Contract 55 off Palawan.

Posted: November 29th, 2013 in Latest Business Stories | Read More »

PH weighs options on future of SC 55

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Energy Secretary Carlos Jericho Petilla: Weighing options. INQUIRER FILE PHOTO

The Philippine government is weighing its options on Service Contract 55 (SC 55) oil exploration area off Palawan after the operator, BHP Billiton Petroleum (Philippines) Corp., decided to withdraw, leaving its venture partner in limbo.

Posted: November 22nd, 2013 in Latest Business Stories | Read More »

Shell: Malampaya expansion on track

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The expansion of the Malampaya deepwater-to-gas power project in offshore Palawan is progressing and on track, according to operator Royal Dutch Shell plc, one of the venture partners.

Posted: September 27th, 2013 in Headlines | Read More »

Otto Energy strikes oil off Palawan

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The country’s only producing oil project, the Galoc field off northwest Palawan, seems set for phase II production later this year as operator Otto Energy reportedly struck oil while drilling one of two new wells at the site.

Posted: July 18th, 2013 in Editor's Pick,Headlines | Read More »

Basic Energy ramps up spending for projects

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FILE PHOTO

Listed oil and gas exploration and development firm Basic Energy is spending $2.5 million this year to develop its first two oil well ventures in Indonesia and prepare renewable energy projects in the Philippines, company president and CEO Oscar L. de Venecia Jr. told reporters.

Posted: July 17th, 2013 in Latest Business Stories | Read More »

Shell taps Dutch firm to construct $60M platform off Palawan

Shell Philippines Exploration BV (SPEX) has tapped Royal Boskalis Westminster N.V. of Netherlands for the installation of a depletion compression platform at the Malampaya gas field off Palawan—part of a planned $750-million Phase III expansion for the field.

Shell Philippines Exploration BV (SPEX) has tapped Royal Boskalis Westminster N.V. of Netherlands for the installation of a depletion compression platform at the Malampaya gas field off Palawan—part of a planned $750-million Phase III expansion for the field.

Posted: June 3rd, 2013 in Latest Business Stories | Read More »

SC 55 bloc bent on securing license for oil, gas prospects

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bhp-billiton

Exploration giant BHP Billiton has submitted a formal notice of “force majeure” to the Department of Energy as it moves to secure its Service Contract 55 license, despite its inability to comply with its current contractual obligations.

Posted: May 6th, 2013 in Latest Business Stories | Read More »

Nido plans to drill in new prospect under SC 63

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Australian firm Nido Petroleum Ltd. plans to drill an exploration well in a new prospect within the area covered by Service Contract 63 in offshore Palawan.

Posted: May 2nd, 2013 in Headlines | Read More »

San Miguel eyes big oil, gas field

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SMC president Ramon S. Ang: Confirmation.  AP FILE PHOTO

Diversifying conglomerate San Miguel Corp. is looking for a major oil or natural gas field overseas as its next major venture.

Posted: March 7th, 2013 in Editor's Pick,Headlines | Read More »

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