Consortium digs new natgas wells

Consortium digs new natgas wells | Daily Tribune

Prime Energy Resources Development B.V., the operator of the Malampaya natural gas or natgas project, will start exploring new wells to augment the supply of indigenous energy.

The company announced on Friday that it has awarded the $69.9-million or P3.85-billion contract covering the Malampaya Phase IV project to Noble, a global leader in offshore drilling.

Deepwater drillship “Noble Viking” will dig two development wells in the Camago and Malampaya East fields.

It will also undertake the third exploration well, dubbed Bagong Pagasa, approximately 15 kilometers north of Malampaya.

“We are very proud of the milestones that the hardworking team of Filipinos in Prime Energy achieve month on month to ensure that we are on track for the planned drilling in 2025,” Prime Energy managing director and general manager Donnabel Kuizon Cruz said.

“Malampaya Gas has served us for more than 20 years. We are committed to continue providing reliable flow and supply of indigenous gas to our customers, protecting Filipino consumers from volatile forces that affect oil and gas prices,“ Cruz added.

Blake Denton, Noble SVP for marketing and contracts, guaranteed to deliver its commitments for the drilling project, which is essential to achieve energy security.

State-of-the-art system

The drill falls under the state-of-the-art Deepwater category, with dual derricks and integrated managed pressure drilling, or MPD, systems on board.

According to Prime Energy, a new find may lead to the commercial production of natural gas to augment fuel supply by 2026.

Once viable gas supplies are uncovered within the Malampaya Phase IV, Prime Energy said it is ready to install pipelines connected to Malampaya production facilities.

Last month, Prime Energy also awarded contracts for the supply of Long Lead materials; Offshore Casing and Tubular Goods, and Wellhead equipment, worth $45 million.

The operations of the Malampaya natural gas project, governed by Service Contract 38, were extended for another 15 years until February 2039.

The consortium, composed of Prime Energy, UC38 LLC, and Philippine National Oil Company-Exploration Corp., has remitted more than $13.5 billion from 2001 to 2023.