Prime Energy Resources Development B.V. is confident to deliver new gas from the Malampaya Phase 4 (MP4) project under Service Contract 38 (SC 38) by the fourth quarter of the year, while signaling openness to expand exploration beyond the country’s flagship gas field.
During a press chat on Tuesday night, Prime Energy President and CEO Donnabel Kuizon Cruz said the company completed drilling and testing of two infill and near-field wells, which confirmed sufficient reserves to sustain Malampaya’s current production plateau of about 210 to 230 million standard cubic feet per day for up to six years.
“It is on track. It is going very well so far. So as long as we continue on this track, we remain on schedule, we should be able to meet the fourth quarter 2026 promise,” Cruz told reporters.
“We have proven there’s gas that we can produce to maintain the Malampaya plateau for at least six years,” she added.
Pipeline installation is now underway to tie the wells back to the platform, part of a fast-tracked development timeline completed in roughly three years—significantly shorter than the typical five to seven years for similar offshore projects.
Apart from sustaining Malampaya’s output, Prime Energy said it also remains open to pursue new upstream opportunities.
The company will leverage the data from its latest campaign to assess potential areas for expansion beyond its existing assets.
“We can look for other blocks to potentially explore and develop,” Cruz said. She added that Prime Energy continues to evaluate a pipeline of prospects while maintaining flexibility in its investment direction.
“We are not focused on just one area. Every year, we refresh our work program budget to see where we want to go next,” Cruz said.
Among the prospects under review is the Bagong Pag-asa exploration well, which Cruz described as a high-risk, high-reward play.
The company is currently analyzing data from the well, with results expected following further technical evaluation.Domestically sourced natural gas provides a more stable and cost-competitive alternative to imports while mitigating exposure to global price volatility.
Over the past two decades, Malampaya has contributed more than $14 billion in revenues to the national government.