Getting in on the Game in Malampaya

March 2006 | Company News Alert

The consortium operating the Philippine's Malampaya field has signed a deal with state-run Philippine National Oil Company that will allow third parties to reappraise and develop the crude reserves beneath the gas field, estimated to hold reserves of 56.6bn cubic metres (bcm). The consortium currently operating the field includes oil majors Royal Dutch Shell and Chevron; companies keen to get in on the action are Chinese global player CNC, Norway's Norsk Hydro and US-based Argo Group. A growing consumer, rather than producer, of energy, the Philippines has some natural gas potential, thanks to the large Malampaya discovery. Dependency on imported

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