Prime Energy Resources Development (Prime Energy), a subsidiary of Prime Infrastructure Capital, has made a natural gas discovery, described as the first major gas find in more than ten years off the coast of the Philippines.
While announcing its gas discovery at the Malampaya East-1 reservoir, Prime Energy, as the operator of Service Contract No. 38, deemed the find to be “a historic milestone” for Philippine energy security, hailing it as “a breakthrough” for the country’s energy independence.
The discovery, announced by President Ferdinand R. Marcos Jr. on Monday, January 19, 2026, is said to end a decade-long discovery drought and reinforce Malampaya’s status as the nation’s sole indigenous gas source, boosting the existing field’s remaining recoverable volumes by an estimated 30%.
The company underlined: “This gas discovery is a victory for the Filipino people. When we assumed operatorship, we committed to the President and the nation to breathe new life into Malampaya and revitalize the indigenous natural gas sector. Today, we are delivering on that commitment.
“We thank President Marcos for his leadership, particularly for approving the extension of SC38 and for the enactment of the Philippine Natural Gas Industry Development Act, which provides the stability and confidence needed to pursue continued exploration of additional gas resources.”
The Malampaya East-1 is a previously untapped reservoir, confirming the presence of 98 billion cubic feet (bcf) of additional natural gas volume and associated condensate. The initial well data indicate volumes equivalent to around one-third of the remaining Malampaya gas volumes.
The operator claims that the discovery was achieved by a fully Filipino-led team, reflecting the country’s growing capability in upstream energy development. Prime Energy operates SC38 together with its partners: UC38, PNOC Exploration Corporation, and Prime Oil and Gas.
The firm hired Noble Corporation’s Noble Viking drillship in 2024 to drill three wells, with an additional one-well option, at the Malampaya-Camago field in the Philippines. The deal was expected to begin in 2Q 2025.
The next phase of the Malampaya 4 drilling campaign involves the completion and testing of Camago-3 , followed by the drilling of Bagong Pag-asa exploration well. This has been certified as a project of national significance.
According to Prime Energy, the Malampaya project has generated more than $13.9 billion in revenues for the Philippine government since its inception, while significantly reducing dependence on imported fuels.