00:00My fellow Filipinos, today I am proud to announce another step forward in our mission to secure
00:06affordable, reliable energy for every Filipino. The Camago 3 well has been successfully drilled
00:13and tested, producing up to 60 million standard cubic feet of gas per day. It is the second
00:19major milestone under our $893 million Malampaya Phase 4 campaign, and it is significantly larger
00:27than our first. Camago 3 holds an estimated two and one half times more recoverable gas
00:34than the Malampaya East 1 discovery. So together, these two wells are projected to extend the
00:39life of the Malampaya gas field by an estimated six years. Ano naman ang ibig sabihin ito
00:45para sa inyo? It means more power, steadier power, and cheaper power. Malampaya gas costs
00:52as roughly 4 pesos and 80 centavos per kilowatt hour. Imported LNG costs 10 pesos and 30 centavos,
01:01more than double. Every unit of power we generate from Malampaya instead of imported fuel is money
01:08saved by households, by small businesses, by every Filipino that pays an electric bill. Alam
01:15natin lahat kung gaano kahalaga ito ngayon. Ang kaguluhan sa Middle East ay nagdudulot ng
01:20matinding pabago-bago sa presyo ng gasolina sa buong mundo. Kaya naman, ginawa natin ang
01:26lahat para masiguro na may sarili tayong supply ng enerhiya upang maibsan ang epekto ng
01:32kaguluhan neto sa pang-araw-araw na buhay ng ating mga kababayan. For the first time since the year
01:392000, new subsea pipelines are being laid in Philippine waters. Ibig sabihin, may bagong tubo na itinatanim sa
01:47ilalim ng dagat para maihatid ang gas mula sa pinagkukuhanan patungo sa ating mga
01:53kahanan at negosyo. We are not just extending a gas field. We are rebuilding our energy
01:59infrastructure from the ground up. We are targeting first gas delivery by the fourth quarter of 2026
02:05and we are not stopping there. The next well, Bagong Pag-asa, sits 30 kilometers north of
02:12Malampaya and is already in the works. This is indigenous energy. It is ours. This is our future
02:19and it is how we protect every Filipino from the burden of rising global fuel prices. Maraming salamat.
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