Exploration & Production

Bids come in for Malampaya gas in the Philippines

Philippine National Oil Co. has received two bids for 2.5 bcm of previously reserved gas from the Malampaya deepwater field.
By Staff reporter 10 July 2018 0 31673

State-run Philippine National Oil Co. (PNOC) has received two bids for 2.5 billion cubic metres of previously reserved gas from the Malampaya deepwater field, The Philippine Star reported last week.

PNOC expects more bids before the 23 July deadline and aims to sell the volume, worth $650 million, this year.

The gas was purchased in advance by the government for six gas-fired power plants to use in the 2020s, but authorities have decided to sell the gas to power generators to...