9 months Ayala sees ‘next Malampaya’ in Palawan oil block Ayala sees ‘next Malampaya’ in Palawan oil block
By Myrna M. Velasco Through its newly institutionalized oil and gas subsidiary Enexor, the Ayala group is targeting the next gas discovery in the country that will match the scale of production of the Malampaya field. Enexor through its subsidiary Palawan 55 has 37.5-percent stake in Service Contract 55, which is a petroleum block in Southwest Palawan that had shown initial potential for commercial gas discovery. The Ayala firm has two other partners in the venture – Australian firm Century Red Pte and Filipino-owned Pryce Gas of the Escaños. Palawan 55, in turn, is 75-percent owned by Enexor and ... more