Malaking sayang: Ex-PNOC president says govt gave up billions in Malampaya income
MANILA - The government missed out on earning tens of billions of pesos from the Malampaya gas field, according to a former head of the government-owned company that has a stake in the natural gas producer.
“You compare this to Petronas, CNOOC of China, national companies of Myanmar, those little poor countries like them but with oil, this is what they are looking for, this opportunity,“ he added. Since PNOC’s main source of revenue is Malampaya, the P4.55 billion represents its 10 percent share in the gas field consortium, he said.
Meanwhile Udenna said “the numbers quoted in various statements and reports regarding what the government will be ceding are mere fabrications.” This was in contrast to Mañalac’s assertion that there were still a lot of gas to be produced from the field, from proven reserves as well as those that have yet to be drilled.
A senator investigating Udenna’s purchase of Chevron’s stake also described the deal as "Lutong macau" meaning it was rigged.