Block partners approve Tindalo field development

The service contract 54 block A (SC 54A) joint venture partners have approved development of the Tindalo oilfield, offshore Philippines.

Offshore staff

PERTH, Australia -- The service contract 54 block A (SC 54A) joint venture partners have approved development of the Tindalo oilfield, offshore Philippines.

The field was discovered by the Tindalo-1 exploration well in October 2008. The well was in 100 m (328 ft) of water and targeted a pinnacle reef structure similar to the nearby, producing Nido and Matinloc oil fields. The well intersected a 124 m to 144 m (407 ft to 472 ft) oil column in Miocene carbonate reservoir.

The field will be developed using a leased, jackup rig, which will re-enter and complete the suspended Tindalo-1 well for production. The field partners will install an electric submersible pump as part of the well completion to maintain production rates throughout the life of the field.

The jackup will remain on location to provide a stable weather-tolerant production platform, the partners say. Crude oil from the well will be processed on the rig and then to a nearby leased FPSO.

First oil is anticipated in 2Q 2010 at an initial rate of around 7,000-15,000 b/d of oil.

12/14/2009

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