2015 Annual Report

Messages

BUSINESS DEVELOPMENT

  • In preparing for the eventual contract expiry and exhaustion of the Malampaya gas field sometime between 2022 to 2024 and in order to secure the future of our natural gas platform, we pursued and heightened our planned development of an LNG regasification terminal located in the First Gen Clean Energy Complex in Batangas City. We are finalizing the third revision of the LNG terminal’s FrontEnd Engineering Design work to be used for the construction tendering phase and are continuing to engage potential LNG suppliers
  • We remain bullish in developing our hydro portfolio. Our hydro business development team is scaling up its expertise in hydroelectric power plant construction and development so that we can start construction of at least one of the 32-MW Bubunawan, the 30-MW Puyo, and the 40.5-MW Tagoloan run-of-river hydroelectric power projects in 2016. All of these projects are in Mindanao. For Bubunawan, we proceeded with rehabilitating the access road at the site and expect it to be completed in 2016
  • In 2015, implementing the three-well drilling program of EDC’s Mariposa Project in Chile was deferred in light of the challenging project economics resulting from the recent fall in competing fossil fuel prices. Nevertheless, through EDC, the Company is still serious in its pursuit of geothermal development activities overseas with various projects going in parallel that are conducting environmental and technical studies for steamfield, power plant, and transmission line interconnection.

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BUSINESS DEVELOPMENT

  • In preparing for the eventual contract expiry and exhaustion of the Malampaya gas field sometime between 2022 to 2024 and in order to secure the future of our natural gas platform, we pursued and heightened our planned development of an LNG regasification terminal located in the First Gen Clean Energy Complex in Batangas City. We are finalizing the third revision of the LNG terminal’s FrontEnd Engineering Design work to be used for the construction tendering phase and are continuing to engage potential LNG suppliers
  • We remain bullish in developing our hydro portfolio. Our hydro business development team is scaling up its expertise in hydroelectric power plant construction and development so that we can start construction of at least one of the 32-MW Bubunawan, the 30-MW Puyo, and the 40.5-MW Tagoloan run-of-river hydroelectric power projects in 2016. All of these projects are in Mindanao. For Bubunawan, we proceeded with rehabilitating the access road at the site and expect it to be completed in 2016
  • In 2015, implementing the three-well drilling program of EDC’s Mariposa Project in Chile was deferred in light of the challenging project economics resulting from the recent fall in competing fossil fuel prices. Nevertheless, through EDC, the Company is still serious in its pursuit of geothermal development activities overseas with various projects going in parallel that are conducting environmental and technical studies for steamfield, power plant, and transmission line interconnection.

Pages: 1 2 3 4 5 6 7 8 9