Photo Release

November 10, 2020

On Udenna consortium-Chevron transfer of interests: Sen. Imee Marcos, during the Committee on Energy hybrid hearing Tuesday, November 10, 2020, on Senate Resolution No. 533 directing an inquiry on the issues surrounding the Malampaya Deep Water Gas-to-Power Project, questions the sale of Chevron Malampaya LLC's 45 percent holdings in the consortium to Udenna Corporation of Davao-based businessman Dennis Uy. Marcos, questioning the background of Udenna in oil exploration, asked how the innovation and technical advancement of the oil industry will continue with Shell Philippines Exploration BV leading the joint venture with Udenna Corporation and the state-run Philippine National Oil Company-Exploration Corporation as partners. The senator also pointed out that the sale of shares is not yet completed since the contract is still under review by the Department of Energy (DOE). Energy Assistant Secretary Leonido Pulido clarified that the contract was already completed but voidable pending evaluation by the DOE. (Screen grab/Senate PRIB)

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