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Noble Starts Drilling Operations for Malampaya Phase 4 Project
ZACKSยท 2025-07-01 13:41
Group 1 - Noble Corporation plc (NE) has commenced its drilling campaign at the Malampaya-Camago field offshore the Philippines, with the Noble Viking drillship contracted to drill three wells, including an option for a fourth well [1][9] - The Bagong Pag-Asa drill site marks the operational kickoff for the Malampaya Phase 4 (MP4) project, which is crucial for enhancing the energy security of the Philippines [2] - The Malampaya project has been operational since 2001 and at its peak supplied up to 40% of Luzon's energy demand, highlighting its significance in the Philippine energy landscape [2] Group 2 - Phase 4 of the Malampaya project involves drilling three specific wells: Camago-3, Malampaya East-1, and Bagong Pag-Asa-1, aimed at extending the gas field's life and increasing domestic energy production [3][9] - The Philippine Department of Energy (DoE) anticipates the first gas from the project by the fourth quarter of 2026 and is committed to supporting the project to ensure a reliable energy future [4] Group 3 - The Noble Viking drillship, operational since 2013, can drill at depths of 12,000 feet and has a maximum drilling depth of 40,000 feet, accommodating up to 230 personnel [5]