About 2.8 billion cubic metres (98 billion cubic feet) of natural gas was found 5km (three miles) east of the Malampaya Field near the island of Palawan, Marcos said, or enough to provide power to 5.7 million homes for a year.
The Philippines has some of the region’s highest energy costs and faces a looming crisis as the Malampaya gas field, which supplies about 40 per cent of power to the archipelago’s main island, Luzon, is expected to run dry within a few years.
The discovery, the first in more than a decade, suggested the potential to produce even more, Marcos said.
“This helps Malampaya’s contribution and strengthens our domestic gas supply for many years to come. Initial testing showed that the well flowed at 60 million cubic feet (1.7 million cubic metres) per day,” Marcos said in a statement.
The Philippines – regularly affected by electricity outages – relies on imported carbon-belching coal for more than half of its power generation.
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