MANILA – The successful drilling and testing of the Camago-3 gas well is expected to help reduce the country’s reliance on imported fuel and strengthen local energy supply.
Senator Pia Cayetano, chair of the Senate Energy panel, said the development marks a significant step toward energy security, particularly as global fuel supply remains vulnerable to geopolitical tensions.
“This comes as a source of hope and opportunity, especially at a time when the conflict in West Asia continues to threaten global fuel supply and drive up energy costs. Every move toward strengthening our own energy sources is a step toward protecting Filipino families from unpredictable costs,” she said in a news release.
Cayetano emphasized that increasing local gas production can lessen dependence on imports and help stabilize electricity prices.
“Locally sourced gas is more affordable. And with a stable domestic supply, we can achieve more reliable and -- potentially cheaper -- electricity for our homes and businesses,” she said.
The senator noted that the Camago-3 development aligns with the policy direction under the Philippine Natural Gas Industry Development Act, which promotes indigenous energy sources and aims to reduce import dependence.
“This is exactly what the NatGas Law was designed to make possible,” she said.
Cayetano said strengthening domestic energy supply is key to shielding the country from volatile global fuel prices and ensuring long-term energy security.
She added that expanding local gas production also supports broader goals of sustainable and inclusive development, including affordable and clean energy.
President Ferdinand R. Marcos Jr. said the successful drilling of the Camago-3 well is part of the government’s efforts to secure affordable and reliable energy for Filipinos.
He said the well holds significantly more recoverable gas and, together with other developments, is expected to extend the life of the Malampaya gas field by about six years. Both are located offshore in Palawan island province.
Marcos noted that locally sourced gas is significantly cheaper than imported liquefied natural gas, translating to savings for households and businesses. (PNA)