Shell to exit Malampaya gas field offshore Philippines 21 May 2021 (Last Updated May 21st, 2021 10:54) Royal Dutch Shell has signed a $460m deal to sell its stake in a gas field offshore the Philippines to Malampaya Energy XP. Share Article Royal Dutch Shell has finalised an agreement to divest its stake in Malampaya gas field in the Philippines to Malampaya Energy XP for up to $460m. Malampaya Energy XP, which is a subsidiary of Udenna, will acquire a stake in Shell Philippines Exploration (SPEX) from Shell subsidiary Shell Petroleum. SPEX owns a 45% stake in Service Contract 38 (SC38), a deepwater licence that comprises the Malampaya gas field.