Philippines discovers first major gas field in a decade

The Philippines has discovered its first major natural gas field in ten years, a find expected to bolster the nation’s energy security, officials have announced. 

President Ferdinand Marcos Jr. confirmed the find, located in the Malampaya East 1 area, in a statement reported by the Philippine News Agency.

The field is estimated to hold 98 billion cubic feet of gas, roughly 2.78 billion cubic metres.

“This new field is expected to significantly boost the country’s energy supply and reinforce long-term energy security,” the agency quoted Marcos Jr. as saying.

In addition to natural gas, the field contains valuable gas condensates. The president emphasised that drilling operations in the area would be conducted with environmental safeguards in place.

The energy potential of the field is substantial. The estimated gas reserves could generate around 14 billion kilowatt-hours of electricity per year, sufficient to power approximately 5.7 million households annually.

By Aghakazim Guliyev