Prime Energy (Prime Energy Resources Development B.V.)

What Prime Energy (Prime Energy Resources Development B.V.) does

Prime Energy Resources Development B.V. operates the Malampaya Deep Water Gas-to-Power Project under Service Contract No. 38 (SC38), the Philippines' only indigenous natural gas field and a piece of national energy infrastructure that supplies approximately 20% of the country's energy needs and 40-45% of Luzon's power generation at full capacity. The company extracts wet gas from subsea reservoirs approximately 3,000 meters below sea level using remote subsea facilities; flowlines transport it to an offshore Shallow Water Platform for initial processing and condensate storage, and a 504-kilometer underwater pipeline carries dried gas to the Onshore Gas Plant in Tabangao, Batangas. From there, two dedicated onshore pipelines feed three gas-fired power stations — Sta. Rita (1,000 MW), San Lorenzo (500 MW), and Ilijan (1,200 MW) — operated by First Gen Corporation subsidiaries.

The revenue model is anchored on long-term Gas Sale and Purchase Agreements (GSPAs) with these power generation customers, effectively a recurring, contracted-offtake structure. As SC38 operator, Prime Energy also shares production revenue with the Philippine government — cumulative government share reached US$5 billion by September 2011, with US$10-12 billion projected over the project's life. The consortium comprises Prime Energy, Udenna Corporation, and PNOC Exploration Corporation; Prime Energy assumed operator duties from Shell Philippines Exploration B.V. The Razon Group, led by Enrique K. Razon Jr., holds significant interest through Prime Infra and related entities. Headquartered in Muntinlupa City (Netherlands B.V. domicile) with approximately 208 employees and operational bases in Tabangao/Batangas and offshore Palawan, the company is currently executing Malampaya Phase 4 (MP4), with first gas from new wells (Malampaya East-1 and Camago-3) targeted for Q4 2026 and a January 2026 discovery at Malampaya East-1 confirming 98 Bcf of additional reserves.

Name

Prime Energy (Prime Energy Resources Development B.V.)

Legal name

Prime Energy Resources Development B.V.

Website

https://malampaya.com

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

101–250 employees

Short description

Prime Energy operates the Malampaya Deep Water Gas-to-Power Project under Service Contract No. 38, the Philippines' only indigenous natural gas field, supplying long-term contracted gas volumes to three gas-fired power stations totaling 2,700 MW in Luzon.

Ownership category

akta.pro rank

Product category

Natural Gas Extraction and Supply

NAICS

Natural Gas Extraction (211130), Pipeline Transportation of Natural Gas (48621), Oil and Gas Extraction (211), Pipeline Transportation of Natural Gas (486210)

SIC

Crude Petroleum & Natural Gas (1311), Natural Gas Transmission (4922), Oil & Gas Field Machinery & Equipment (3533)

akta.pro primary industry

Conventional Natural Gas Exploration & Production (Dry Gas) (EUAAAAAA)

akta.pro secondary industries

Natural Gas Gathering Systems (EUAAACAA), Natural Gas Compressor Stations & Metering/Regulation Stations (TLAGAKAD), Natural Gas Field Gathering Systems (TLAGAJAB), Well Completion & Stimulation (Hydraulic Fracturing, Sand Control) (EUAAAAAJ), Production Operations & Artificial Lift (Surface Facilities, Compression, Flow Assurance) (EUAAAAAK)

Keywords

• Natural gas extraction
• Deepwater gas production
• Gas-to-power project
• Offshore gas supply
• Indigenous natural gas

Headquarters

HQ city

Muntinlupa City

HQ country

Philippines

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Supply Chain, Technology or R&D

Revenue model

1. Natural Gas Sales: Revenue generated from the sale of indigenous natural gas to power generation companies through long-term Gas Sale and Purchase Agreements (GSPAs). Natural gas is processed at the Onshore Gas Plant in Tabangao, Batangas and transported via two onshore pipelines to three gas-fired power stations (Sta. Rita, San Lorenzo, and Ilijan).
2. Government Revenue Share: As operator of Service Contract No. 38, Prime Energy shares revenue with the Philippine government from natural gas production. Government share reached US$5 billion by September 2011 and is forecasted to reach US$10-12 billion over the life of the project.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Prime Energy operates the Malampaya Deep Water Gas-to-Power Project, extracting indigenous natural gas from subsea reservoirs at approximately 3,000 meters below sea level off Palawan, Philippines. The company processes and supplies natural gas through dedicated pipeline infrastructure to three gas-fired power stations in Luzon (Sta. Rita, San Lorenzo, and Ilijan) under long-term Gas Sale and Purchase Agreements.

Differentiator

Problem solved

Functional benefit

Products and services

• Malampaya Indigenous Natural Gas Supply

Quantifiable outcome

• Meets 20% of country's energy needs and 40-45% of Luzon's power generation requirements at full 2,011 MW capacity
• +4 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

14 partnerships are on record, tiered minor and core.

• Razon Group of FoundationsminorStrategic or Co-development Partner · 22 May 2026Malampaya Foundation (MFI) joined five other Razon Group corporate foundations (BCFI, IF, MWF, MBCFI, PIF) to form the Razon Group of Foundations. The platform enables synergized initiatives on biodiversity conservation, water stewardship, sustainable livelihood, environmental education, climate resilience, and collaborative research across communities in the Philippines.
• First Gen CorporationcoreStrategic or Co-development Partner · 9 January 2024The Malampaya consortium signed a long-term Gas Sale and Purchase Agreement (GSPA) with First Gen Corporation subsidiaries that own gas-fired power plants. The new GSPA continues gas supply contracts expiring in 2024, representing a major commercial relationship for natural gas supply.
• DENR-MimaropaminorStrategic or Co-development Partner · 15 July 2013Department of Environment and Natural Resources regional office partnered with MBCFI through a Memorandum of Agreement for environment protection and conservation in Mindoro province, including biodiversity information gathering, conservation plans, and capacity building activities.
• Department of Energy (DOE)coreStrategic or Co-development PartnerThe Department of Energy leads the development of the Malampaya project as the Philippine government agency overseeing energy resource development. DOE coordinates with Prime Energy on project operations, maintenance schedules, and energy security initiatives. Prime Energy works closely with DOE on regulatory compliance and project development phases.
• Udenna CorporationcoreStrategic or Co-development PartnerJoint venture partner in Service Contract No. 38 alongside Prime Energy and PNOC Exploration Corporation. Udenna Corporation is part of the Razon Group led by Enrique K. Razon Jr.
• PNOC Exploration CorporationcoreStrategic or Co-development PartnerPhilippine National Oil Company-Exploration Corporation is a joint venture partner in Service Contract No. 38, representing the Philippine government's interest in the Malampaya Deep Water Gas-to-Power Project under SC38.
• Bloomberry Cultural Foundation (BCFI)minorStrategic or Co-development PartnerCorporate foundation of the Razon Group united under the MOU forming the Razon Group of Foundations, focusing on sustainable and inclusive development programs.
• ICTSI Foundation (IF)minorStrategic or Co-development PartnerCorporate foundation of the Razon Group and pillar of the foundation alliance, participating in the Razon Group of Foundations MOU for coordinated sustainable development initiatives.
• Manila Water Foundation (MWF)minorStrategic or Co-development PartnerCorporate foundation of the Razon Group focusing on water and sanitation programs, united under the Razon Group of Foundations for collaborative sustainable development.
• Mindoro Biodiversity Conservation Foundation (MBCFI)minorStrategic or Co-development PartnerNGO focused on conserving Mindoro's unique and threatened environment, biodiversity and natural resources. MBCFI has partnered with DENR-Mimaropa for environmental protection and with Oriental Mindoro provincial government for marine biodiversity protection.
• Prime Infra Foundation (PIF)minorStrategic or Co-development PartnerCorporate foundation of the Razon Group covering broad range of social sectors, united under the Razon Group of Foundations MOU.
• Oriental Mindoro Provincial GovernmentminorStrategic or Co-development PartnerLong-standing partnership with Malampaya Foundation for programs including marine biodiversity conservation, waste management, livelihood, enterprise development and disaster preparedness. Formalized partnership with Coron LGU and MOA with provincial government for seven barangays' marine protected area management.
• Pilipinas Shell Foundation Inc. (PSFI)minorStrategic or Co-development PartnerShell foundation partner in sustainable development initiatives including Access to Energy projects, environmental programs, and community development alongside Malampaya Foundation.
• Conservation International-PhilippinesminorStrategic or Co-development PartnerEnvironmental NGO partner in youth action camps and marine conservation programs, particularly in the Verde Island Passage Marine Corridor.

Scale indicators10 records

Recent moves7 records

Expansion highlights4 records

Market position

Competitive moat5 records

Customer concentration

• LinkedInlinkedin.com/company/prime-energy-prime-energy-resources-development-b-v

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prime Energy (Prime Energy Resources Development B.V.)