What is Malampaya fund?

Malampaya fund scam It was created to support energy resource development and exploration programs, with the President of the Philippines given the prerogative to determine other uses for the profits.

Who bought Shell Malampaya?

Two months ago, Dutch oil and energy company Shell Petroleum N.V. said that another Udenna unit Malampaya Energy XP Pte. Ltd. would buy its entire interest in Shell Philippines Exploration B.V. (SPEx). SPEx, the project’s operator, holds a 45% stake.

Does Malampaya have oil?

The Malampaya Project in the Philippines is the country’s largest undertaking in the oil and gas industry. It powers up to 45% of the archipelago’s biggest island– where the nation’s capital is located.

What is Malampaya platform?

The Malampaya Deepwater Gas-to-Power project utilizes state-of-the-art technology to extract natural gas and condensate from the depths of the Palawan basin. It then processes the gas in a nearby shallow water production platform and transports it across three provinces through a 504-km (313-mile) underwater pipeline.

Where can we find Malampaya?

Palawan Island
The Malampaya field is located 80km off the coast of Palawan Island, in the Republic of the Philippines.

Is Shell a Filipino company?

CORPORATE HISTORY AND MILESTONES. Pilipinas Shell traces its roots to Asiatic Petroleum Company (Philippine Islands), Ltd. which opened for business in the Philippines and began to import and sell motor gasoline and kerosene in 1914.

What does Dennis Uy own?

Dennis Uy is founder of Udenna, a conglomerate with interests spanning petroleum, oil and gas, shipping, logistics, real estate, education and gaming. Apart from Udenna, his fortune also comes from stakes held in public companies Phoenix Petroleum Philippines and Chelsea Logistics & Infrastructure.

Where is oil found in the Philippines?

Palawan
Petroleum and other liquids The Philippines has only two active petroleum fields: Galoc, an offshore field in the Northwest Palawan Basin, and Alegria, an onshore field in the Province of Cebu.

What fossil fuel is in Malampaya?

Where is Keppel Subic Shipyard in Palawan Philippines?

Keppel Subic Shipyard has ventured into fabrication work of an entire offshore structure, the Depletion Compression Platform (DCP), now deployed in the Malampaya gas field off the shores of Palawan, Philippines.

What kind of facilities does Keppel Subic have?

Keppel Subic has built additional capabilities with investment in a clean room facility, complete with overhead crane services, to be able to accommodate the delicate requirements for the repair and upgrading of Liquefied Natural Gas Carrier (LNGC) vessels. It also has dome houses and other equipment to support the operation.

Who is the Chief Executive Officer of Keppel?

Matthew Pollard, Chief Executive of Keppel Infrastructure Fund Management Pte Ltd, the Trustee- Manager of KIT, said, “The strategic acquisition of PCSPC will allow KIT to diversify, grow and strengthen the resilience of KIT’s distributable cash flow.”