Shell group of companies said it expects to complete three major projects in 2015 that will expand operations and boost revenues in the Philippines.
Shell country chairman Ed Chua told reporters the three projects were the oil import terminal of Pilipinas Shell Petroleum Corp. in Cagayan de Oro City, phase 3 of Malampaya natural gas platform of Shell Philippines Exploration B.V. in northwest Palawan and the upgrade of the oil refinery in Batangas.
“This year, we hope to complete the import terminal in Cagayan De Oro by end of the year,” Chua said.
Shell is putting up a multi-billion-peso fuel import facility in Cagayan de Oro that is expected to meet the rising energy needs of residents, motorists and other consumers in Visayas and Mindanao.
“We also have the Malampaya platform and then hopefully, although there are delays in the refinery, but we are trying to do a catch-up. So hopefully, we can complete it within the year. If not, early next year,” Chua said.
Shell Philippines Exploration, operator of the Malampaya gas to power project, together with other members of the consortium (Chevron Malampaya LLC and PNOC Exploration Corp.) is embarking on a $1-billion phase 2 and 3 development.
The consortium has already completed phase two of Malampaya development which involved drilling and installation of two additional deep water wells to bring more gas from the Camago Malampaya reservoir.
Phase 3 involves the construction of a second offshore platform which is expected to be completed by middle of the year. The Malampaya deep-water gas-to-power project, completed in 2001 at cost of $4.5 billion, supplies natural gas to power three power plants in Batangas with a combined capacity of 2,700 MW.
Shell is also undertaking its refinery upgrade costing $100 million to $150 million that will make its 110,000-barrel-per-day capacity compliant with the Euro IV requirement, which is set to take effect by January 2016.