Udenna, a holding company in the Philippines, completed the acquisition of the Philippine gas field of Shell, a British-Dutch multinational oil and gas company, for $460m. "Since it began commercial operations in 2002, Malampaya has supplied a significant portion of the Philippines’ energy demand and it will continue powering the country with indigenous gas following a safe transition of the asset and its experienced workforce. Today’s announcement is consistent with Shell’s efforts to shift our Upstream portfolio to one that is focused on nine core positions," Wael Sawan, Shell Upstream Director.