Gas Field to Produce in 2 Years HOT STOCKS

September 25, 2008

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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