Razon's Prime Infra completes acquisition of Malampaya operator

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<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Malampaya gas project. Shell Philippines Exploration BV, Handout' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/09/04/09042018-malampaya-handout.jpg' ><figcaption>Malampaya gas project. <em>Shell Philippines Exploration BV, Handout</em></figcaption></figure></div><p>MANILA - Prime Infrastructure Capital Inc said its subsidiary has completed the acquisition of the 45-percent operating stake in Malampaya gas project operator.</p><p>The Enrique Razon-led firm said in a statement it has assumed full ownership of Shell Philippines Exploration B.V (SPEX).</p><p>It plans to rename the operator Prime Energy Resources Development B.V. (Prime Energy), Prime Infra said.</p><p>“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,” said Prime Infra Chairman Enrique Razon, Jr. </p><p>Prime Infra said it has established a team of experts while some 300 SPEX employees will join the Prime Infra group, it said.</p><p>The Department of Energy earlier approved Prime Infra's bid for the Malampaya operator citing its technical, financial and legal qualifications.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/10/03/22/prime-infras-malampaya-bid-gets-doe-nod'>Enrique Razon's Prime Infra secures DOE nod for Malampaya operator bid</a></li>	<li><a href='https://news.abs-cbn.com/business/06/02/22/razon-eyes-buying-stake-in-malampaya-from-dennis-uy'>Enrique Razon eyes buying stake in Malampaya gas field from Dennis Uy</a></li></ul><p>Dennis Uy's Udenna Corp made the same bid earlier but has faced criticisms.</p><p>Prime Infra President and CEO Guillaume Lucci said they would work on securing a license for the extension of the Malampaya project whose license is set to expire in 2024.</p><p>Malampaya powers up to 20 percent of Luzon's total electricity requirements, Prime Infra said.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/05/11/22/razons-bloomberry-invests-in-dennis-uys-cebu-clark-projects'>Razon's Bloomberry to invest in Dennis Uy's PH Resorts group projects</a></li></ul><p><strong>RELATED VIDEO:</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1684231' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<p>“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,” said Prime Infra Chairman Enrique Razon, Jr. </p><p>Prime Infra said it has established a team of experts while some 300 SPEX employees will join the Prime Infra group, it said.</p><p>The Department of Energy earlier approved Prime Infra's bid for the Malampaya operator citing its technical, financial and legal qualifications.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/10/03/22/prime-infras-malampaya-bid-gets-doe-nod'>Enrique Razon's Prime Infra secures DOE nod for Malampaya operator bid</a></li>	<li><a href='https://news.abs-cbn.com/business/06/02/22/razon-eyes-buying-stake-in-malampaya-from-dennis-uy'>Enrique Razon eyes buying stake in Malampaya gas field from Dennis Uy</a></li></ul><p>Dennis Uy's Udenna Corp made the same bid earlier but has faced criticisms.</p><p>Prime Infra President and CEO Guillaume Lucci said they would work on securing a license for the extension of the Malampaya project whose license is set to expire in 2024.</p><p>Malampaya powers up to 20 percent of Luzon's total electricity requirements, Prime Infra said.</p><ul class='op-related-articles'>	<li><a href='https://news.abs-cbn.com/business/05/11/22/razons-bloomberry-invests-in-dennis-uys-cebu-clark-projects'>Razon's Bloomberry to invest in Dennis Uy's PH Resorts group projects</a></li></ul><p><strong>RELATED VIDEO:</strong></p><figure class='op-interactive'><iframe allow='autoplay; fullscreen' frameborder='0' height='100%' id='ivsplayer01' scrolling='no' src='https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&key=e8c22c015ca9eafa76f1e3edfa03c603&spid=3001339&vid=1684231' width='100%'></iframe></figure><div class='iwantbar'>Watch more News on <a href='https://www.iwanttfc.com/#!/browse/Genres/News/tag_id_genres/id_news' target='_blank'>iWantTFC</a></div>

<p>The Enrique Razon-led firm said in a statement it has assumed full ownership of Shell Philippines Exploration B.V (SPEX).</p><p>It plans to rename the operator Prime Energy Resources Development B.V. (Prime Energy), Prime Infra said.</p>

<div class='embed-wrap'><figure data-feedback='fb:likes,fb:comments'><img alt='Malampaya gas project. Shell Philippines Exploration BV, Handout' src='https://sa.kapamilya.com/absnews/abscbnnews/media/2018/news/09/04/09042018-malampaya-handout.jpg' ><figcaption>Malampaya gas project. <em>Shell Philippines Exploration BV, Handout</em></figcaption></figure></div><p>MANILA - Prime Infrastructure Capital Inc said its subsidiary has completed the acquisition of the 45-percent operating stake in Malampaya gas project operator.</p>

Prime Infrastructure Capital Inc said its subsidiary has completed the acquisition of the 45-percent operating stake in Malampaya gas project operator.

Razon's Prime Infra completes acquisition of Malampaya operator | ABS-CBN News

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Razon's Prime Infra completes acquisition of Malampaya operator

Razon's Prime Infra completes acquisition of Malampaya operator