Shell to begin 3 major projects in 2015

MANILA, Philippines – Pilipinas Shell Petroleum Corp. country representative Ed Chua said that the petrol giant is poised to take on three major projects in 2015: the proposed import terminal in Cagayan de Oro, the upgrade of the deep water gas-to-power.

Malampaya natural gas oil field in offshore Palawan, and a liquefied natural gas (LNG) terminal.

“This year, we hope to complete the import terminal in Cagayan de Oro,” Chua noted, referring to the P6-billion import terminal to be constructed in Northern Mindanao.

Chua also detailed plans of the second project, which covers the second phase and third phase expansion of the Malampaya project. Phase two will involve the drilling and development of two additional wells (at a cost of $250-million), while phase three is the installation of a new platform for equipment and facilities (estimated at $ 750-million).

For the third project, the company will embark on constructing a terminal for the natural gas, LNG, although Chua said that plans for this project have not yet been finalized.

“The LNG (project) is still a work in progress. We’ll have to review the timing (given the falling oil prices),” Chua said.