The production contract, which expires in February 22, 2024, is now extended to February 22, 2039.
MANILA, Philippines – President Ferdinand Marcos Jr. signed on Monday, May 15, the renewal agreement for Malampaya Service Contract Number 38 extending it for 15 more years to 2039.
Senator Raffy Tulfo and the President’s cousin, House Speaker Martin Romualdez, witnessed the signing. conduct of exploratory drilling further away from the Malampaya production area within the Service Contract “The discovery of additional reserves in the Malampaya gas field will boost the country’s quest for energy security. It is also expected to encourage opportunities for further exploration in the country, which to date remains underexplored, and to add to the Philippines’ energy portfolio,” said the energy department.
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