The Department of Energy (DoE) said on Tuesday that the Malampaya gas field concession, known as Service Contract 38, is currently under review by the Office of the President in the wake of an application to extend the concession. READ:
THE Department of Energy said on Tuesday that the Malampaya gas field concession, known as Service Contract 38, is currently under review by the Office of the President in the wake of an application to extend the concession.
Prime Infrastructure Capital, Inc. is seeking a 15-year extension for the concession, which is set to expire next year. Prime Energy holds a 45% stake in the Malampaya project. The other members of the consortium, UC38 LLC and PNOC Exploration Corp., own 45% and 10% stakes, respectively.“PD 87 embodies an early example of public-private partnerships and, in the case of the Malampaya deepwater Gas-to-Power Project, a successful one,” the DoE said.