President Ferdinand 'Bongbong' Marcos Jr. has signed the Renewal Agreement for the Malampaya Service Contract No. 38 (SC 38), allowing the continued production of the Malampaya gas field until Feb. 22, 2039. ManilaBulletin READ:
This renewed Malampaya's production contract for its final 15 years. It was supposed to expire on Feb. 24, 2024.
President Ferdinand "Bongbong" Marcos Jr. has signed the Renewal Agreement for the Malampaya Service Contract No. 38 , allowing the continued production of the Malampaya gas field until Feb. 22, 2039. According to the Department of Energy , the signing ensured that the remaining gas reserves would be further explored and utilized.
Aside from continuing the production operations, the SC 38 Consortium is required to conduct exploratory drilling further away from the Malampaya production area within the Service Contract to retain the exploration areas. Failure to comply would force the SC 38 Consortium to relinquish a portion of the exploration areas.
In consonance with international oil and gas exploration practice, the SC 38 Consortium is required to submit a Decommissioning Plan and Budget covering the abandonment of wells and decommissioning of facilities following applicable international standards, including timing and costs, within 30 calendar days from the effectivity of the Renewal Agreement.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Ex-president Duterte: Marcos 'right' about drug war abusesFORMER president Rodrigo Duterte agrees with President Ferdinand 'Bongbong' Marcos Jr.'s recent remarks that abuses were committed during the previous administration's war on illegal drugs but insisted that 'those were never intended.'
Baca lebih lajut »
Marcos, Duterte pay tribute to moms’ selflessness, courage on Mother's DayPresident Ferdinand Marcos Jr. and Vice President Sara Duterte on Sunday paid tribute to mothers’ love, selflessness, and compassion that have become the guiding light of their children.
Baca lebih lajut »
Duterte: Marcos right about drug war ‘abuses’ILIGAN CITY—Ex-President Rodrigo Duterte affirmed the observations of President Marcos that abuses were committed in the course of the former’s antidrug campaign. “I am sure [that] if
Baca lebih lajut »
Marcos orders gov't to look into comfort women's concernsPresident Ferdinand Marcos Jr. has ordered government agencies to look into the concerns of Malaya Lolas, a non-profit group composed of women who were sexually abused by Japanese soldiers during World War II.
Baca lebih lajut »
Marcos orders govt agencies to look into comfort women's concernsPRESIDENT Ferdinand 'Bongbong' Marcos Jr. has ordered government agencies to act on the concerns of the Malaya Lolas (Free Grandmothers), a group of elderly women who were sexually abused by Japanese soldiers during World War 2.
Baca lebih lajut »
Marcos issues EO for management of Malacañang Heritage MansionsPresident Ferdinand Marcos Jr. has issued an executive order on promoting and conserving Philippine historical and cultural heritage sites through the efficient management of Malacañang Heritage Mansions and the creation of advisory and management bodies.
Baca lebih lajut »