Post by : Badri Ariffin

In a significant advancement for the Philippines' energy landscape, President Ferdinand Marcos Jr. revealed on Monday the successful discovery of natural gas at Malampaya East-1 (MAE-1), situated roughly 6 kilometers east of the established Malampaya gas field off Palawan's coast.

Local news outlets report this marks the nation’s first substantial natural gas find in over a decade.

The newly identified well is estimated to contain approximately 98 billion cubic feet of natural gas, with the capacity to produce around 14 billion kilowatt-hours of electricity annually. This volume could sufficiently power about 5.7 million homes or service 200,000 schools each year.

This discovery is part of an $893 million drilling initiative spearheaded by Prime Energy, a venture associated with Filipino entrepreneur Enrique Razon. Initial tests have shown gas flow rates at about 60 million cubic feet per day, suggesting a promising production outlook.

MAE-1 is anticipated to prolong the operational lifespan of the Malampaya gas field, which currently fulfills 35 to 40 percent of Luzon's electricity requirements. This new find stands to lessen the country's reliance on coal imports, fostering a more sustainable and efficient energy mix.

The drilling site is positioned in the West Philippine Sea, a vital area for the Philippines' energy development ambitions.

#Global News #Philippines