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Shell signs USD 380 million agreement for the Malampaya gas field in the Philippines

 Last Update: 2021-06-05
 Source: Internet
 Author: User

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China Petroleum & Chemical News.

Shell Upstream Head Wael Sawan said: "Since the start of commercial operations in 2002, Malampaya has provided a large part of the Philippines' energy needs.

SPEX employees will continue to provide continuous work, which contributes to the reliability and safety of continuous operations.

The transaction has no impact on Shell's other branches in the country.

Wu Henglei compiled from World Petroleum

The original text is as follows:

Shell inks $380 million deal for its Malampaya, Philippines gas field

Shell Petroleum NV has signed an agreement with Malampaya Energy XP Pte Ltd (a subsidiary of Udenna Corporation), for the sale of its 100% shareholding in Shell Philippines Exploration BV (SPEX).

"Since it began commercial operations in 2002, Malampaya has supplied a significant portion of the Philippines' energy demand and it will continue powering the country with indigenous gas following a safe transition of the asset and its experienced workforce," said Wael Sawan, Shell's Upstream Director.

SPEX staff will continue their employment under the new ownership, providing continuity and contributing to ongoing operational reliability and safety.

　　This deal has no impact on other Shell businesses in country.

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