September 25, 2008

Gas Field to Produce in 2 Years HOT STOCKS

The Philippine government expects to start oil production from its largest natural gas field in less than two years, said Eduardo Hernandez, director at state-run Philippine National Oil Co- Exploration.

An unlisted domestic firm, Burgundy Global Exploration, will extract crude deposits at the Camago-Malampaya gas field off the coast of Palawan island in western Philippines, along with PNOC-EC. The gas field is run by a consortium headed by a unit of Royal Dutch Shell.

Originally published by Reuters.

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