Razon's Prime Infra completes acquisition of Malampaya operator

ABS-CBN News

<div class="embed-wrap"><figure data-feedback="fb:likes,fb:comments"><img alt="Malampaya gas project. Shell Philippines Exploration BV, Handout" src="https://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/09/04/09042018-malampaya-handout.jpg"/><figcaption>Malampaya gas project. <em>Shell Philippines Exploration BV, Handout</em></figcaption></figure></div><p>MANILA - Prime Infrastructure Capital Inc said its subsidiary has completed the acquisition of the 45-percent operating stake in Malampaya gas project operator.</p><p>The Enrique Razon-led firm said in a statement it has assumed full ownership of Shell Philippines Exploration B.V (SPEX).</p><p>It plans to rename the operator Prime Energy Resources Development B.V. (Prime Energy), Prime Infra said.</p><p>“The Malampaya asset begins a new chapter today as we continue to build on the legacy of this world-class installation in helping achieve national energy security and independence,” said Prime Infra Chairman Enrique Razon, Jr. </p><p>Prime Infra said it has established a team of experts while some 300 SPEX employees will join the Prime Infra group, it said.</p><p>The Department of Energy earlier approved Prime Infra&#x27;s bid for the Malampaya operator citing its technical, financial and legal qualifications.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/10/03/22/prime-infras-malampaya-bid-gets-doe-nod">Enrique Razon&#x27;s Prime Infra secures DOE nod for Malampaya operator bid</a></li>	<li><a href="https://news.abs-cbn.com/business/06/02/22/razon-eyes-buying-stake-in-malampaya-from-dennis-uy">Enrique Razon eyes buying stake in Malampaya gas field from Dennis Uy</a></li></ul><p>Dennis Uy&#x27;s Udenna Corp made the same bid earlier but has faced criticisms.</p><p>Prime Infra President and CEO Guillaume Lucci said they would work on securing a license for the extension of the Malampaya project whose license is set to expire in 2024.</p><p>Malampaya powers up to 20 percent of Luzon&#x27;s total electricity requirements, Prime Infra said.</p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/05/11/22/razons-bloomberry-invests-in-dennis-uys-cebu-clark-projects">Razon&#x27;s Bloomberry to invest in Dennis Uy&#x27;s PH Resorts group projects</a></li></ul><div><strong>RELATED VIDEO:</strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1684231" width="100%"></iframe></figure><div class="iwantbar">Watch more News on <a href="https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news" target="_blank">iWantTFC</a></div>

Prime Infrastructure Capital Inc said its subsidiary has completed the acquisition of the 45-percent operating stake in Malampaya gas project operator.

Razon's Prime Infra completes acquisition of Malampaya operator | ABS-CBN

Halalan 2025

Entertainment

News

Metro.Style

Sports

More

Business

Razon's Prime Infra completes acquisition of Malampaya operator

Razon's Prime Infra completes acquisition of Malampaya operator

ABS-CBN News

Published Nov 02, 2022 09:59 AM PHT

Read More:

Prime Infra Capital Holdings

Prime Infra

Malampaya

Malampaya operator

Shell

gas project

energy

ABS-CBN is the leading media and entertainment company in the Philippines, offering quality content across TV, radio, digital, and film. Committed to public service and promoting Filipino values, ABS-CBN continues to inspire and connect audiences worldwide.

Corporate

Investors

Governance

International Distribution

Corporate

Governance

Investors

International Distribution

NPC Seal of Registration

Privacy Policy

AI Policy

Terms of Service

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.

NPC Seal of Registration

Privacy Policy

Terms of Service

AI Policy

Advertise with Us

© 2025 ABS-CBN Corporation. All Rights Reserved.