Exploration & Production

Philippines seeks $2.8 bln compensation from Malampaya contractors

The Philippines is seeking $2.8 billion in compensation from the contractors working on the Malampaya gas field
By Staff reporter 17 May 2018 0 30904

The Commission on Audit of the Philippines is seeking PHP 147 billion ($2.8 billion) in compensation from the contractors working on the Malampaya gas field as a result of alleged underpayments, according to The Philippine Star.

The commission said the government has been underpaid since the state reduced its share in the project to 34.03%. A consortium of Shell, Chevron and Philippine National Oil Co. holds the remaining 65.97%.

The commission initially made the ruling in January. It...