Gas2Grid Completes Malolos-1 Oil Testing Program
Gas2Grid announced that the Malolos-1 oil testing program in Service Contract (SC) 44 onshore Cebu, Philippines has been completed and recovered oil analyzed.
- Upper Sandstone Interval: 37.2 degree API, waxy crude
- Lower Sandstone Interval: 39 degree API, waxy crude
- These crude oils are typical of other oils in the region and saleable quality.
Forward Program: the immediate plan is to conduct a longer period production test of the two oil bearing sandstone intervals with the aim of moving some of the Contingent Resource of oil in the Reserve category and also to gather technical data to help plan field development. This testing phase, to be run over several months will commence once equipment has been sourced and installed at the well site.
Longer period testing and forward planning will require sourcing of pumping equipment, onsite oil storage, short term marketing arrangements and transport to point of sale. Company owned rigs and other existing equipment will be used during this phase.
The results of this ongoing testing program will dictate further field appraisal and development activities that are likely to include drilling of new wells and seismic acquisition.
The Malolos Oil Field is located approximately 5 miles (8 kilometers) by road from the western coast of Cebu. Oil transportation options from the Malolos Oil Field include road transport by a new, all weather, concrete road from the wellsite to coastal port options at nearby Aloguinsan (5 miles or 8 kilometers – less than 10 minutes by road) or the larger, established port of Toledo (19.9 miles or 32 kilometers – 30 minutes by road). One option would be to load the oil onto marine transport for sale either to one of two oil refineries located in Batangas, Philippines (approximately 311 miles or 500 kilometers north) or in Singapore (approximately 1,553 miles or 2,500 kilometers south-west). Local sale options on the island of Cebu are also being investigated.
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- Gas2Grid Commences Technical Program at Malolos Oil Field in Philippines (Jan 14)
- Gas2Grid Gets More Time for Malolos Oil Development in the Philippines (Dec 12)
- Gas2Grid Seeks Farminee to Fund Malolos Oil Field Appraisal, Development (Jul 30)