The Camago-3 well is producing up to 60 million cubic feet of gas per day, adding a significant boost to Malampaya’s remaining supply, with new gas expected to start flowing by the fourth quarter of 2026.
“By maximizing indigenous gas resources, Malampaya helps protect Filipino consumers from global fuel price volatility while supporting more stable electricity costs,” Prime Energy said in a statement on Thursday.
The development, part of the $893-million Malampaya Phase 4 campaign, comes as the Philippines faces growing exposure to imported fuel costs and supply risks.
Bigger reserves, longer runway
Camago-3 alone is estimated to hold recoverable gas volumes about 2.5 times larger than the Malampaya East-1 discovery, effectively doubling remaining reserves.
Together, the two wells are expected to extend Malampaya’s operating life by around six years, ensuring continued supply to the Luzon power grid.
For the first time in over two decades, new subsea pipelines are also being installed to tie in additional resources, restoring large-scale offshore capability.
“The results at Camago-3 further strengthen our confidence in Malampaya’s remaining resource potential,” Prime Energy said. “Together with the Malampaya East-1 gas discovery, this will deliver continued value of indigenous natural gas in ensuring a stable and reliable power supply for Filipino consumers.”
Cheaper power, stronger protection
At about P4.80 per kWh versus roughly P10.30 per kWh for imported LNG, the cost advantage underscores Malampaya’s role in stabilizing power prices.
With more than $14 billion already generated for the government, the project remains central to energy security while opening further exploration upside through the planned Bagong Pag-asa well.
—Edited by Miguel R. Camus
