Prime Energy Resources Development B.V. has reaffirmed its commitment to advancing the country’s energy independence through the continued development of indigenous natural gas resources, particularly from the Malampaya gas field.
In a statement, Prime Energy president and CEO Donnabel Kuizon Cruz said that local natural gas plays a key role in the country’s energy transition, providing stable power supply and prices while supporting government revenue.
“Filipino gas can serve as a unifying bridge for the energy industry and a force for good for Filipinos,” Cruz said.
The company operates the Malampaya deep water gas-to-power project with a 40 percent participating interest. Since operations began in 2001, the project has met up to 40 percent of Luzon’s power demand and generated $13.9 billion in revenues for the government.
Cruz highlighted Malampaya’s continued contribution through its ongoing Phase 4 expansion — a $893-million investment involving the drilling of three new wells. The project, the largest upstream investment in the country in over a decade, aims to deliver new gas supplies by 2026.
Prime Energy, in partnership with the Department of Energy (DOE), Prime Oil and Gas Inc., UC38 LLC, and PNOC Exploration Corp., is spearheading the initiative to extend Malampaya’s lifespan.
As the Philippines targets increasing its renewable energy share to 30 percent by 2030 and 50 percent by 2040, Prime Energy reiterated that natural gas remains a vital complement to renewable energy sources.
According to DOE data as of end-June 2025, renewable energy sources — including hydro, geothermal, wind, biomass, and solar — accounted for 32.3 percent or 10,051 MW of the country’s total 31,073 MW installed on-grid capacity.
Prime Energy is a subsidiary of Razon-led Prime Infrastructure Capital Corp., which focuses on sustainability-driven assets in energy, clean water, and waste management.
