MANILA, Philippines — Philippine President Ferdinand Marcos Jr. announced Monday the discovery of a new natural gas deposit near the disputed South China Sea, which could shield his country from a potential power crisis.
The “significant discovery” northwest off Palawan province, close to an existing gas field in waters adjacent to the critical waterway, could eventually supply power to more than 5.7 million households or nearly 200,000 schools for a year, Marcos said, adding further tests and another drilling in the area would be done “to pursue more potential gas resources.”
The undersea reservoir is estimated to contain about 98 billion cubic feet (2.7 billion cubic meters) of gas. Initial tests showed 60 million cubic feet (1.6 million cubic meters) of gas could be extracted daily from the well, Marcos said, without providing further details, including when commercial production could start.
“This helps Malampaya’s contribution and strengthens our domestic gas supply for many years to come,” Marcos said. “Aside from the natural gas, the discovery also includes condensate, which is a high-value liquid fuel.”
The new gas deposit, called Malampaya East 1, was discovered by a consortium about 5 kilometers (3.1 miles) east