MANILA, Philippines --- President Ferdinand "Bongbong" Marcos Jr. on Monday signed the renewal agreement for the Malampaya Gas Field, which extends the production contract for another 15 years. Marcos signed the renewal agreement in a ceremony in Malacaan Palace. The renewal agreement was for Service Contract 38, which was first awarded to Shell Philippines Exploration B.V. in 1990. According to the Department of Energy (DOE), the original 25-year production contract, which was set to expire in February 2024, has been renewed for a final 15 years. This extends the contract deadline to February 2039. The Malampaya Gas Field has been operational since 2001. "This will allow ...Keep on reading: Bongbong Marcos signs Malampaya renewal agreement