Manila: The Philippines announced on Monday the discovery of a new natural gas field east of the offshore Malampaya gas field, off the coast of Palawan Island, marking the country's first major gas discovery in more than a decade.
According to Kuwait News Agency, Philippine President Ferdinand Marcos Jr. stated in a televised address that drilling activities led to the discovery of approximately 98 billion cubic feet of natural gas, located around five kilometers east of the Malampaya field. Marcos highlighted that this volume is sufficient to provide energy for about 5.7 million homes for an entire year.
He emphasized that the discovery would bolster domestic gas supplies and increase the field's contribution to the national power sector. Initial tests revealed gas flowing from the well at a rate of 60 million cubic feet per day, suggesting potential for higher production levels in future phases.
Marcos also mentioned that the newly discovered reservoir, named Malampaya East 1 (ME-1), is the first success under the fourth-phase drilling campaign of the project. He noted that test results confirm the well's productivity, comparable to the original wells, enhancing prospects for developing additional gas resources in the vicinity.
The Philippine government aims to expand exploration activities to improve energy security and lessen dependence on costly, high-emission imported coal.