MSEditorial Reducing dependence on oil The President urged the Department of Energy to oversee the project’s implementation through strict monitoring and ensuring the consortium’s goals are aligned with the country’s national interests.
President Ferdinand Marcos Jr. has signed the renewal agreement for the Malampaya Service Contract No. 38, or plain SC 38, that would allow the continued production of the Malampaya gas field for another 15 years until February 22, 2039.
During the ceremonial signing, the President said the renewal of the contract is significant to achieve the country’s energy security as Malampaya powers 20 percent of Luzon’s energy needs. He reiterated his administration’s commitment to actively pursue the exploration, development, and utilization of the country’s indigenous energy resources, and to optimize the country’s energy mix.
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