Pilipinas Shell Petroleum Corp. expects to complete three major projects this year starting with the P6-billion import terminal in Cagayan de Oro.
The other two projects include the Malampaya platform and the upgrade of its Batangas refinery. The three projects will bring in additional revenues for the company.
Pilipinas Shell country president Ed Chua said the expansion of its depot in CDO will help support industrialization, urbanization and overall consumption growth in Mindanao and Visayas.
Chua added that the installation of a new depletion compression platform for Malampaya is nearly done. Two additional production wells were installed in 2013, marking the completion of Malampaya Phase 2.
Malampaya Phases 2 and 3 aim to maintain the level of gas production to fulfill commitments under existing gas sales agreements and provide a steady supply of natural gas to power the Luzon electricity grid.
“Malampaya phase 2 and 3 will be completed by the middle of the year to sustain the delivery of gas as the same level of what we have now,” he said.
Since it began operations in 2001, the Malampaya project has supplied three power plants in Batangas, with a combined capacity of 2,700 MW.
In terms of the refinery in Batangas, Chua said the expansion project is expected to be finished within the the year.
“There are delays in our refinery project, but we are trying to catch-up, so hopefully that will be completed within the year,” said Chua.
The Department of Energy (DOE) earlier said that Shell invested P7 billion for the upgrade of its Batangas refinery.