Prime Energy: $69.9-M drilling contract for Malampaya Phase 4 awarded to London-based Noble

Razon-led Prime Energy Resources Development B.V. said Friday it has awarded the multi-million-dollar contract to drill two new deep water wells at the Malampaya natural gas field to a London-based firm.

In a statement, Prime Energy said Noble secured the $69.9-million contract for the use of the London-based contractor’s “Noble Viking” to drill two deepwater development wells in the Camago and Malampaya East fields, as well as a third exploration well, Bagong Pagasa, approximately 15 kilometers north of Malampaya.

Prime Energy said the Noble Viking drilling rig is considered state-of-the-art in its deepwater category, with dual derricks and integrated managed pressure drilling (MPD) systems on board.

This rig contract comes on the back of two earlier awarded contracts for the supply of long lead materials: offshore casing and tubular goods (OCTG) and wellhead equipment, with a combined value of some $45 million.

“We are very proud of the milestones that the hardworking team of Filipinos at Prime Energy achieves month on month to ensure that we are on track for the planned drilling in 2025,” said Prime Energy managing director and general manager Donnabel Kuizon Cruz.

“Malampaya gas has served us for more than 20 years. We are committed to [continuing to provide] reliable flow and supply of indigenous gas to our customers, protecting Filipino consumers from volatile forces that affect oil and gas prices.''

“Noble is pleased to join together with Prime Energy in this important drilling campaign, which will ultimately contribute to improved energy security for the Philippines,” said Blake Denton, Noble senior vice president for marketing and contracts.

Service Contract No. 38 (SC 38), which governs the Malampaya project, was extended for another 15 years or until February 2039.

The consortium has remitted more than $13.5 billion from 2001 to the end of 2023. — VBL, GMA Integrated News