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The global offshore drilling riser market was estimated to reach a valuation of USD 3.8 Billion in the year 2022. With a steady CAGR of 2.2% from...
The global offshore drilling riser market was estimated to reach a valuation of US$3.8bn in 2022
The eye-watering amount was disclosed by the DOE in a briefing on Tuesday. The national government renewed the Malampaya service contract No. 38 (SC 38) for the final time on Monday.
“This is the key to our drive to energy security and calculated to advance the nation’s energy interest. This project will reduce our dependence on oil imports while ensuring a stable supply of energy,” Marcos said during the signing ceremony in Malacañang Palace.
The Marcos Jr. administration is keen on siphoning every last drop from the Malampaya gas field as the government renewed its production contract with private companies for the last time.