7 months Malampaya consortium secures P146.8-B award in arbitration case MB |Biz
By Myrna M. Velasco The members of the Service Contract (SC) 38 consortium in the multi-billion Malampaya deep-water gas to power project secured “partial award” of P146.8 billion in the income tax arbitration case that was decided recently by the International Chamber of Commerce (ICC) in Singapore. The Malampaya gas field uses an innovative and sustainable deepwater technology for recovering natural gas from the deepwater reservoir in northwest Palawan. (Image from shell.com.ph | Manila Bulletin) The ICC, however, “is reviewing the fourth notice of charge amounting to P9.6 billion,” according to a source privy to the matter – and that ... more