NEW MALAMPAYA GAS FIELD FOUND

President Ferdinand R. Marcos Jr. announced on Monday, Jan. 19, the discovery of a new natural gas reservoir east of the Malampaya field, marking the country's first significant gas find in more than 10 years and strengthening domestic energy security.

- By ARGYLL GEDUCOS

In a video report posted on his social media accounts, Marcos said the reservoir, known as Malampaya East 1 (MAE-1), is located about five kilometers east of the existing Malampaya gas field.

The President said MAE-1 is estimated to contain around 98 billion cubic feet of gas in place, equivalent to nearly 14 billion kilowatt-hours of electricity in a year.

"The Philippines has struck natural gas at Malampaya East 1, our first major discovery in more than a decade, giving fresh momentum to our efforts to secure a stable and reliable energy supply for the country," he wrote on Facebook.