Partners in Palawan basin deepwater revise budget, drilling program

The Philippine Department of Energy (DoE) has approved the revised work program and budget for the current exploration sub-phase for Service Contract (SC) 55.

Offshore staff

PERTH, Australia -- The Philippine Department of Energy (DoE) has approved the revised work program and budget for the current exploration sub-phase for Service Contract (SC) 55.

The joint venture partners now have until August 2010 to complete a combined 2D/3D seismic program, and until August 2011 to drill one deepwater well. In addition, the DoE has approved work program revisions to Service Contracts 50 and 51. The partners will have to drill two wells in SC 50 by March 2011 and one exploration well in SC prior to December 2010.

SC55 is a deepwater block in the southwest of the Palawan basin. SC50 contains the Calauit and Calauit South fields in the northeast of the Palawan basin. SC 51 is in the East Visayan basin in the central Philippines.

08/24/2009

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