The Philippines: Shell Sells Stake in Malampaya Offshore Field

OE Staff
Tuesday, November 1, 2022

Shell has completed the sale of its stake in the Malampaya offshore gas field in the Philippines to Malampaya Energy XP Pte Ltd  (MEXP), a subsidiary of Prime Infrastructure Capital Inc (Prime Infra).  

Shell Petroleum signed an agreement to sell interest in Malampaya, Philippines, in May 2021.

The sale transfers control of Shell Philippines Exploration (SPEX) to Prime Infra effective November  1, 2022.  SPEX staff will continue their employment under the new ownership, Shell said.

SPEX, under the ownership of Prime Infra, will continue to own a 45% operating interest and be the operator of the  Malampaya gas field.  

The other members of the Service Contract 38 consortium are UC38 LLC, a subsidiary of Udenna Corporation, and PNOC  Exploration Corporation (PNOC EC). They respectively own 45% and 10% of participating interests.



“Since operations began in 2002, the  Malampaya gas field has supplied an important part of the Philippines’  energy demand through the dedicated work of our partners and staff, past and present,” said Zoe Yujnovich, Shell’s Upstream Director. “This sale supports our strategy to create a resilient and competitive Upstream portfolio”.

Shell said that the sale did not affect other Shell businesses in the country. 

"The Philippines remains an important country for Shell after over a century of successful operations.  Shell will continue to pursue opportunities in the Philippines where it can leverage its global expertise in line with its Powering Progress strategy," Shell said.

SPEX received its license to operate in the Philippines in 1990. It then became operator of Malampaya to explore and develop SC38 offshore Northwest of Palawan. Malampaya began its commercial operations in 2002.  


Categories: Energy Industry News Activity Production Asia Gas South China Sea

Related Stories

Oil Flows to Lag Even if Hormuz Strait Reopens

Eni Makes Major Gas Discovery Offshore Indonesia

Metropolitan CCS Cleared to Drill CO2 Storage Wells off Japan

Saipem Bags $400M in Offshore Contracts from Aramco in Saudi Arabia

Japan to Launch $10B Fund to Help Asia Secure Oil

IEA Cuts Oil Demand, Supply Outlook Amid Iran War

Borr Drilling Expects Higher Activity as Rigs Return to Work

Petra Energy Secures Work Orders from Petronas for Sarawak Gas Project

Israel Orders Restart of Ops at Karish Offshore Gas Platform

France Leads 15-Country Effort to Reopen Strait of Hormuz

Current News

Jadestone Secures Gas Sales Deal for Fields Offshore Vietnam

Oil Flows to Lag Even if Hormuz Strait Reopens

Eni Makes Major Gas Discovery Offshore Indonesia

Strike Threat Grows at Ichthys LNG after Workers Reject Deal

Pertamina Unit to Operate Indonesia’s Lavender Block under 30-Year PSC

MidEast Energy Output Recovery to Take Two Years, IEA Says

Metropolitan CCS Cleared to Drill CO2 Storage Wells off Japan

Saipem Bags $400M in Offshore Contracts from Aramco in Saudi Arabia

Toyo, OneSubsea Form Subsea CCS Partnership

Japan to Launch $10B Fund to Help Asia Secure Oil

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com