BHP Billiton enters force majeure notice for SC55 offshore Philippines

BHP Billiton has lodged with the Philippine Department of Energy a notice of force majeure as operator of offshore SC55.

Offshore staff

WEST PERTH, Australia – BHP Billiton has lodged with the Philippine Department of Energy a notice of force majeure as operator of offshore SC55.

Delays in handling the Strategic Environmental Plan Clearance by the Palawan Provincial Council for Sustainable Development prompted the declaration.

The notice is to suspend obligations under theFourth Sub-Phase of SC55, which includes drilling the Cinco 1 well, to preserve time under the permit.

“The Cinco prospect in SC55 is an exciting and material opportunity and we look forward to BHPB concluding final clearance of the SEP and drilling the Cinco prospect,” said Gregor McNab, CEO of Otto Energy, a partner in the permit. “BHPB has reiterated that its objective remains to fulfill its contractual commitment to drill the Cinco-1 well in SC55 at the earliest opportunity and all parties will continue to work towards that goal.”

5/03/2013

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