Otto Energy has commenced a 3D seismic data acquisition program in Service Contract 69 in the Visayan Basin of the Republic of Philippines. Exploiter’s seismic vessel, BGP Explorer, is recording the seismic data.
Otto plans to acquire nearly 51,892 acres (210 square kilometers) of 3D seismic data in permit. The service contract covers an area of about 1.3 million acres (5,280 square kilometers) in the central Visayan Basin where the data acquired from last year’s 2D seismic campaign confirmed the presence of two sizable reef structures, Lampos and Lampos South.
The two structures, which are adjacent to the Calamangan Trough, are modeled to produce both oil and gas. Otto currently estimates the oil-in-place of the combined structures to range between 22 MMbbls and 713 MMbbls with a mean-in-place volume of 290 MMbbls. The survey will fulfill the service contract commitments in the current sub-phase.
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