Prime Energy Resources Development, a subsidiary of Prime Infrastructure Capital, has awarded a $180 million contract to Allseas for the installation of essential pipeline and umbilical infrastructure as part of Malampaya Life Extension Project.
Prime Energy Resources Development, leading the Service Contract 38 (SC38) consortium, officially finalized a critical $180 million contract with Allseas during a signing ceremony in Manila.
The event marks the formalization of a pivotal agreement for the Malampaya life extension initiative, Project Sinagtala, underscoring a significant advancement in the Philippines’ energy security strategy.
The finalized contract entrusts Allseas with the installation of essential pipeline and umbilical infrastructure, connecting two new wells to the Malampaya Shallow Water Platform.
These wells are scheduled to commence gas delivery by 2026, ensuring a continuous supply of indigenous natural gas that will power millions of homes and businesses across Luzon.
"Today's signing ceremony highlights the strong partnership between Prime Energy, as a service contractor, and the Philippine government, particularly with the Department of Energy, as we finalize this crucial contract to advance Project Sinagtala and strengthen the nation's energy security.
“With this agreement in place, we are ready to deliver a vital new source of gas that will support the Philippines for years to come,” said Donnabel Kuizon Cruz, Prime Energy CEO.
The Malampaya deepwater gas-to-power project, located 50 kilometers offshore Northwest Palawan, began commercial operations in January 2002 and has contributed over $12 billion in revenues to the Philippine government while powering up to 20% of Luzon’s electricity requirement.
Subscribe
