President Ferdinand Marcos Jr. Thursday to aggressively push for local energy development and exploration to ensure more reliable electricity, reduce dependence on imported fuel, and protect Filipino households and businesses from global energy market uncertainties.

“We are sustaining this momentum through continued cooperation among the government, industry, and our development partners,” Marcos said as he witnessed the ceremonial first flow of gas at the Malampaya Onshore Gas Plant in Batangas City.

“On the part of government, you may rest assured that we will continue to pursue initiatives that foster a more conducive environment for energy exploration and production.”

The President reported that under his administration, the government has awarded 14 new Petroleum Service Contracts covering oil, natural gas, and native hydrogen exploration.

And to attract more exploration activities in the country, the Department of Energy (DOE) has granted special allowances for service contractors involved in new plays, frontier areas, and gas development in remote areas, the chief executive added.

At the same time, the President said the government is also implementing the Philippine Gradiometry and Seismic Survey Project to help us identify promising exploration opportunities.

The government is also strengthening the use of indigenous natural gas resources by giving priority to the procurement and utilization of domestic natural gas over imported natural gas by gas-fired power plants through the passage of the Philippine Natural Gas Industry Development Act, the President further said.

“Taken together, these measures optimize our resources, encourage responsible investments, and ensure that the benefits of our pursuits serve the national interest,” the President noted.

MP4 involved drilling two deepwater wells and installing subsea infrastructure to connect them to the existing Malampaya production platform, with the project adding an estimated 222 billion cubic feet (Bcf) of recoverable natural gas reserves.

It is capable of generating approximately 31.46 billion kilowatt-hours of electricity-enough to power 13.11 million Filipino households for one year. The two wells are expected to extend Malampaya’s productive life by approximately six years.

The country’s greater adoption of indigenous natural gas could help reduce the energy sector’s exposure to fluctuations in international fuel markets as the Malampaya gas having a price advantage over imported spot liquefied natural gas (LNG) over the past decade. Presidential News Desk