MANILA – In pursuit of searching for new indigenous energy sources, President Ferdinand R. Marcos Jr. has vowed to push for gas explorations in the country.
“Aside from Malampaya, we will also push for more gas exploration in other parts of the country,” Marcos said during his second State of the Nation Address (SONA) Monday.
The Chief Executive said the national government has partnered with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in energy exploration, development, and utilization within its territorial jurisdiction.
“We therefore expect to see renewed investor interest in its promising sites,” he added.
Marcos also highlighted the importance of the country’s lone natural gas-fired power facility, the Malampaya gas field, which energizes 20 percent of the Luzon grid.
Last May 15, Marcos approved the extension of Malampaya Service Contract (SC) No. 38 until Feb. 22, 2039.
“The Malampaya project has been a boon to our country,” he said. “The renewal of the contract guarantees continued revenues and energy production for another 15 years.” (PNA)