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SMC preparing bid for Malampaya

26 Mar

BY UNICAPITAL SECURITIES

San Miguel Corp. (SMC) has taken strong interest in owning and operating the Malampaya deep water gas-to-power project, the country’s largest producing gas field, years before the facility is placed on the auction block.

SMC president and chief operating officer Ramon S. Ang said the conglomerate is now eagerly awaiting for the Malampaya facility to be auctioned off by the government.

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However, there are no specific discussions at present on the next steps to be undertaken after the contract of the Malampaya consortium expires by 2022 according to the Department of Energy.

Malampaya operator Shell Philippines Exploration B.V. has a pending license extension proposal to the DOE.

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Posted by on March 26, 2015 in Corporate News, SMC, Stock Market

 

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