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(From Lloyds List)
Byline: Department of Energy expects to award contracts by May in Philippines' first licensing round, writes Helen Campbell
SIXTEEN international oil companies hoping to find 'the new Malampaya gas project' have evaluated data on fresh acreage offered in the Philippines' first ever licensing round which closed last week.
The shallow, deep and ultra deepwater contract areas range from 2,000 to 8,000 sq km, with an average area of 6,000 sq km.
Some lie close to Shell's giant $4.5bn Malampaya gas field with its recoverable reserves of 2.5 trn cu ft of gas and 85m barrels of condensate.
The Department of Energy said …