00:00President Ferdinand R. Marquez Jr. has announced a new milestone in the admin's mission to secure affordable and reliable energy
00:07for every Filipino.
00:09That's the successful drilling and testing operation in the Camago 3 well.
00:14What does this new gas discovery mean for our country in this Bernard Ferrer Report?
00:20The Philippines has discovered a new source of natural gas.
00:25President Ferdinand R. Marquez Jr. announced the ongoing crisis in the Middle East.
00:30My fellow Filipinos, today I am proud to announce another step forward in our mission to secure affordable, reliable energy
00:38for every Filipino.
00:40The Camago 3 well has been successfully drilled and tested, producing up to 60 million standard cubic feet of gas
00:47per day.
00:48The Camago 3 well is located offshore Palawan and is part of the Malampaya Phase 4 drilling campaign,
00:53discovered months after the successful findings of millions of cubic feet of gas in Malampaya East 1,
00:58discovered months after the successful findings of millions of cubic feet of gas in Malampaya East 1.
01:04The president says even more gas may be recovered from Camago 3.
01:08Combined, this could provide up to six more years of power supply from Malampaya gas field.
01:13What this means, according to the president.
01:16It means more power, steadier power, and cheaper power.
01:20Every unit of power we generate from Malampaya instead of imported fuel is money saved by households, by small businesses,
01:30by every Filipino that pays an electric bill.
01:32Power from Malampaya costs about 5 pesos per kilowatt-hour, far lower than around 10 pesos per kilowatt-hour from
01:39imported liquefied natural gas.
01:41Alam natin lahat kung gaano kahalaga ito ngayon.
01:44Ang kaguluhan sa Middle East ay nagdudulot ng matinding pabago-bago sa presyo ng gasolina sa buong mundo.
01:51New subsea pipelines are also being laid, the first since 2000, to deliver gas from source to homes and businesses.
01:59We are targeting first gas delivery by the fourth quarter of 2026, and we are not stopping there.
02:05The next well, Bagong Pag-asa, sits 30 kilometers north of Malampaya and is already in the works.
02:13This is indigenous energy. It is ours. This is our future.
02:17And it is how we protect every Filipino from the burden of rising global fuel prices.
02:23The president assured the government is working to secure local energy supply and reduce the impact of global crisis on
02:30Filipino households.
02:31Bernard Ferrer from the National TV Network for New and Better Full East.
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