By Juzel L. Danganan
MANILA, May 24 (PNA) –- San Miguel Corporation (SMC) President Ramon Ang said the firm is serious on both its Malampaya bank gas and Malampaya pipeline bids.
”We’ll bid on both the bank gas and the pipeline, because the pipeline will be returned to the government – if it will be returned,” Ang told reporters.
Ang noted he is not worried with the depletion rate of the Malampaya gas fields expected by 2024, since “there’s a lot of potential resource near the area”.
He stressed the pipeline passes through a huge distance reaching Palawan, adding that upon the Malampaya reserves fully emptied, SMC could expand the Malampaya pipeline a little to tap other fields.
Ang further said that the pipeline is really expensive.
The current Malampaya consortium is made up of Shell Philippines Exploration B.V (SPEX), Chevron Malampaya LLC and the PNOC-Exploration Corp (PNOC-EC).
SPEX is the service contract operator for the Malampaya fields or No. 38, which will expire by 2024.
On the other hand, SMC participated at prequalification conference for the bank gas held by the Power Sector Assets and Liabilities Management (PSALM) on April 19.
The pre-qualified bidders will be announced on June 3. (PNA)