Shell Petroleum N.V. (Shell Petroleum) has completed the sale of its entire shareholding in Shell Philippines Exploration B.V (SPEX) to Malampaya Energy XP Pte Ltd (MEXP), a subsidiary of Prime Infrastructure Capital Inc. (Prime Infra). Know more:
Shell Petroleum N.V. has completed the sale of its entire shareholding in Shell Philippines Exploration B.V to Malampaya Energy XP Pte Ltd , a subsidiary of Prime Infrastructure Capital Inc. .SPEX staff will continue their employment under the new ownership, the company said Tuesday.
“Since operations began in 2002, the Malampaya gas field has supplied an important part of the Philippines’s energy demand through the dedicated work of our partners and staff, past and present,” said Zoe Yujnovich, Shell’s Upstream Director. “This sale supports our strategy to create a resilient and competitive Upstream portfolio.”
SPEX received its license to operate in the Philippines in 1990. It then became operator of Malampaya to explore and develop SC38 offshore Northwest of Palawan.
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Shell completes sale of 45% stake in Malampaya projectShell said the sale and control transfer of Spex to Prime Infra became effective Nov. 1. This followed the receipt of consent from the joint venture partners and regulatory approvals. READ:
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Razon-led Prime Infrastructure takes over ownership of Malampaya operator“With great pride and honor, we welcome the SPEX team to our Prime Infra family of companies. 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,” Prime Infra chairperson Enrique Razon Jr. said.
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Shell completes sale of 45% stake in Malampaya projectShell said the sale and control transfer of Spex to Prime Infra became effective Nov. 1. This followed the receipt of consent from the joint venture partners and regulatory approvals. READ:
Read more »
Razon-led Prime Infrastructure takes over ownership of Malampaya operator“With great pride and honor, we welcome the SPEX team to our Prime Infra family of companies. 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,” Prime Infra chairperson Enrique Razon Jr. said.
Read more »