The Department of Energy has committed to come out with a study on the commercial and technical viability of the government taking over the Malampaya gas project once the service contract of the Malampaya consortium ends by 2024, an official said Tuesday.
Energy Undersecretary Leonido Pulido III told reporters at the sidelines of a Senate hearing the department, along with state-owned PNOC Exploration Corp., the oil and gas unit of Philippine National Oil Co. had started the study in January for completion by the end of the year.
PNOC Exploration owns 10 percent of the Malampaya gas project in partnership with Shell Philippines Exploration B.V. (45 percent) and Chevron Malampaya LLC (45 percent).
The consortium holds service contract 38, or the Malampaya gas project, in northwest Palawan. The service contract is due to expire in 2024.
The consortium has not asked for an extension of the service contract.
