Philippine National Oil Co. (PNOC) has decided to sell the remaining 2.5 billion cubic metres of banked gas in the Malampaya field, valued at $700-750 million, according to Business Mirror.
The sale will be made via a negotiated scheme and there will be no deadline for the submission of offers.
This will enable the company to pick the most advantageous terms from those received.
The first auction for the banked gas included First Gen Corp., Prime Meridian Power and...
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