00:00President Ferdinand Marcos Jr. says a significant volume of natural gas has been discovered some 5 kilometers east of the existing Malampaya field.
00:09This is the first time in over a decade that a major natural gas discovery has been made in the country.
00:14The new reservoir, called Malampaya East 1 or May 1, is estimated to contain 98 billion cubic feet of gas.
00:21Katumbas nito ang halos 14 billion kilowatt hour ng kuryente sa isang taon.
00:27Ibig sabihin, makakapagsupply ito ng kuryente sa mahigit 5.7 milyon na milyong kabahayan, siyam na libut limang daan na gusali o halos dalawang daan libong paaralan sa loob ng isang taon.
00:40Initial tests show the new reservoir is comparable to the existing Malampaya wells in terms of productivity.
00:46In 2023, Marcos signed a renewal agreement extending the production contract for the Malampaya natural gas block to 2039.
00:52This additional resource can help support the government's efforts for the stabilization of our power supply.
