Prime Energy Resources Development B.V. today announced that it sealed an agreement with Abu Dhabi National Oil Company (ADNOC) Global Trading (AGT) to supply condensate to be produced at the Malampaya gas field.
“This agreement with AGT establishes our force in the global petroleum industry, and we are privileged that AGT, one of the top oil companies across the globe, has decided to partner and grow with us. Prime Energy and AGT share the same responsibility of harnessing our natural resources to transform societies around the world by providing resilient infrastructure to create a better future” said Donnabel K. Cruz, Managing Director and General Manager, Prime Energy.
AGT is a joint venture between oil company ADNOC, Italian energy company Eni S.p.A., and the Republic of Austria. The agreement covers March 1, 2023 to February 23, 2024.
Prime Energy is the main operator of the Malampaya deep water gas-to-power project in offshore northwest Palawan. Alongside natural gas, it also extracts and exports condensate, which is primarily used as refinery feedstocks for motor and heating fuels.
With a growing range of customer base, including foreign industry players, Prime Energy ensures a steady supply of energy in the country while making significant contributions to stakeholder communities through sustainable social and environmental programs. The AGT supply agreement positions Prime Energy as a petroleum company with the expertise and business practices that meet global industry standards.
Prime Energy (formerly Shell Philippines Exploration (SPEX)), a subsidiary of Prime Infrastructure Capital Inc, is a natural gas exploration and development company that operates the Malampaya project. For more information, visit malampaya.com.