Philippines Finds New Gas Reservoir Near Malampaya

President Ferdinand Marcos Jr. announced on Monday the discovery of a significant natural gas reservoir near the Philippines' primary offshore gas field, marking the country's first such find in more than a decade and offering potential relief for its strained energy sector.

The new reservoir, named Malampaya East 1 or MAE1, lies about five kilometers east of the existing Malampaya field off the coast of Palawan island in the West Philippine Sea. Initial estimates place the site's recoverable gas volume at approximately 98 billion cubic feet, along with condensate, a valuable liquid fuel. Marcos described the discovery as equivalent to generating nearly 14 billion kilowatt-hours of electricity annually, sufficient to power more than 5.7 million households or support millions of households and hundreds of thousands of schools for a year.

The announcement came via a video message shared on Marcos' social media accounts. "This helps Malampaya's contribution and strengthens our domestic gas supply for many years to come," he said. Early testing of the well indicated a flow rate of 60 million cubic feet per day, suggesting high productivity comparable to the original Malampaya wells...