In a memorandum of understanding (MOU) signed recently, PSPC and BSP agreed to conduct a technical and feasibility study on these future joint undertakings. The two oil firms also agreed to conduct a study on the export of crude oil from Brunei to the Philippines.
PSPC and BSP are also willing to constitute a technical committee to commence the said study within six months from the date of the signing of the MOU.
PSPC has an oil refinery in Tabango, Batangas which has a total capacity of developments have forced the company to limit its productions to only 135,000 BOPD.
PSPC and Shell Petroleum Exploration B.V. also signed a MOU with Brunei LNG Sendirian Berhad (BLNG) for the possible construction of a liquefied natural gas (LNG) peak-shaving facility.
This facility would complement the existing Malampaya facilities in Batangas to provide a continuous supply of gas to its customers, and to expand the peak delivery capacity of Malampaya.
Spex is the main operator of the $4.5-billion Malampaya gas project in Northern Palawan. – Donnabelle Gatdula