Malampaya Gas Field Increases Revenue to Philippines, an Industrial Info Market Brief

The Philippines' Malampaya offshore gas field contributed $11 billion to the country as of August 2019 according to a report from Pilipinas Shell Petroleum Corporation. The revenue share was $1 billion higher than August last year. The 25-year contract of Malampaya field will expire in 2024, but if renewed by the Department of Energy (DOE) with an extended license to operate, it could still supply enough power requirements for the five gas-fired power facilities in the country until 2030