State-owned Philippine National Oil Co.-Exploration Corp. (PNOC-EC), one of the proponents of the Malampaya gas-to-power project, has predicted an '80-percent success rate' for the drilling of new wells that will be conducted by the consortium in two years. PNOC-EC president Franz Josef George Alvarez said at a Senate hearing on Friday that the consortium was preparing for the drilling of two additional wells scheduled in 2025. 'If successful, by 2026 we will have additional production. The probability of success is around 80 percent,' Alvarez told senators at the Senate sub-finance committee hearing on the proposed 2024 National Expenditure Program of PNOC-EC.

https://business.inquirer.net/422785/80-success-rate-predictedfor-new-malampaya-gas-wells

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