Ceremonial Signing of the President

May 15, 2023| Ceremonial Signing of the President of another energy project partnership with the private sector.
President Ferdinand R. Marcos Jr. delivers his remarks following the signing of the renewal agreement of the Malampaya Service Contract (SC) No. 38 at the President’s Hall in Malacañan Palace on May 15, 2023.
The SC 38 Consortium is set to expire on 24 February 2024 but is renewed for 15 years or until 24 February 2039 to allow the continued production of the Malampaya gas field while ensuring that the remaining reserves are explored and utilized.
The President ordered the Department of Energy (DOE) to ensure the smooth implementation of the Malampaya gas field while maintaining the government’s strategic partnership with the private sector towards the attainment of energy adequacy, reliability and affordability for the Filipino people.
The Malampaya Project is considered one of the largest and most significant industrial endeavors in the country through a successful joint partnership between the government and the private sector. Since its establishment, the government was able to generate a total revenue of PhP374 billion from its operations.