The Malampaya project is a one of its kind project that the Philippines have developed. It is a big opportunity for the Philippines in gas development. The project aims to harvest Gas deep underwater and to use it as a source of power. It provides at least 40-45% of Luzon’s electricity since 2002. It is currently being conducted by Shell Philippines Exploration together with the joint partners Chevron Texaco Malampaya and PNOCEC. The gas was buried approximately 800 meters underwater deep in Northwest Palawan. According to Department of Energy Philippines (2002) that Malaya Gas field is to produce 146 billion cubic feet (BCF) a year.
It was proven that they have at least 80 million barrels of condensate and 20-40 million barrels of oil reserves which totals 2.5 to 3.5 trillion cubic feet of Gas (TCF). Last December 2012 there has been a plan to expand the Malampaya Gas plant. The Keppel Subic Shipyard started “striking steel” or steel cutting as a signal for their $1 billion fabrication of an offshore rig in expansion of the Malampaya project. Keppel Subic will be a great help in developing the Malampaya project by building and installing substructure and topside modules in platforms to sustain its 2,700 megawatts production output and for the completion of the Malampaya 3.
Also, it will generate at least 1,200 jobs according to Shell Philippines. It has been planned that in 2014, they will build additional two wells and in 2015, installing of new platform for additional equipment and facilities. According to the consortium, the Malampaya 3 aims to keep a steady supply to maintain their commitments in ensuring the power supply for Luzon. It has been proven that they have 3.2 trillion cubic feet reserves and 1 trillion of it has already been consumed.
Sources: http://malampaya.com/?page_id=2 http://www.doe.gov.ph/DNG/malampaya_history.pdf http://www.gmanetwork.com/news/story/284493/economy/companies/keppel-subic-to-build-fabrication-yard-for-malampaya-deep-well-platform http://manilastandardtoday.com/2012/12/08/work-starts-on-expansionary-malampaya-rig/