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

Strohm to Supply Insulated TCP Jumpers for Malaysia’s Offshore Project

Arabian Drilling Flags Temporary Offshore Rig Suspensions in Persian Gulf

Rising Costs of War: Gulf Energy Infrastructure Stares Down $25B Repair Bill

ADES Expects Up to 44% Earnings Rise Despite Regional Tensions Impacting Rigs

Iran to UN: 'Non-Hostile' Ships Can Transit Strait of Hormuz

CNOOC Names New CEO

US Oil Shield Starts Showing Cracks as Iran War Drives Prices Higher

Offshore Vietnam: Energy Imports Rise as Domestic Production Falls

Eni Advances Angola Gas Project, Secures $9B Credit Facility

OneSubsea Bags Third PTTEP Subsea Systems Contract in One Year

Current News

Eni Exits Consortium for Oil and Gas Exploration Offshore Israel

Big Oil to Reap Billions from Energy Price Surge

UAE Stands Ready to Join Force to Reopen Strait of Hormuz

Asian Buyers Rush for Russian Oil Amid Supply Disruption

Mubadala Energy Secures Southwest Andaman Exploration Block off Indonesia

Strohm to Supply Insulated TCP Jumpers for Malaysia’s Offshore Project

Arabian Drilling Flags Temporary Offshore Rig Suspensions in Persian Gulf

Iran War Sends LNG Prices Soaring, Curbing Asia Demand

Rising Costs of War: Gulf Energy Infrastructure Stares Down $25B Repair Bill

ADES Expects Up to 44% Earnings Rise Despite Regional Tensions Impacting Rigs

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