MANILA -Prime Energy Resources Development B.V. has become the 88th member of the International Association of Oil and Gas Producers (IOGP) that will help the firm in improving its upstream industry performance, advocacy intelligence and industry outreach.
The subsidiary of the Razon-led Prime Infrastructure Capital Inc. said its IOGP membership would provide insight for benchmarking and decision making, talent development, and representation in key industry and global meetings that would strengthen its operations.
“Our membership [in] the IOGP, alongside other industry trailblazers, cements our position as an exploration company with established expertise and credibility, especially as the operator of the Malampaya project,” said Prime Energy managing director Sebastian Quiniones Jr.
“As a member, Prime Energy will continue to participate in the organization’s initiative of building a stronger foundation as the industry engineers its way toward the energy transition to a low-carbon future,” he added.
IOGP, established in 1974, works with over 2,250 industry leaders from its member organizations that collectively produce 40 percent of the world’s oil and gas.
There are currently 13 members from the Asia-Pacific, with Prime Energy being the first from the Philippines.
Prime Energy owns 45-percent operating interest in the Malampaya gas field, which supplies 20 percent of the Luzon grid’s electricity requirements.
The firm also recently announced that it wanted to tap a new gas-well in the first quarter of 2026 as it seeks to expand operations in the country.