Philippines DOE awards SC75 in the Palawan Basin to a Philex-Led JV

Philippines-based upstream oil and gas company Philex Petroleum Corporation announced Friday that the company has received from the Philippines Department of Energy the duly executed copy of Petroleum Service Contract No. 75 (SC 75) in the Northwest Palawan Basin off the Philippines.

SC 75 covers an area of approximately 1.522 million acres (616,000 hectares) in the Northwest Palawan Basin which was referred to as Area 4 in the 4th Philippine Energy Contracting Round for Petroleum (PECR4 Area 4).

The Petroleum Service Contract for PECR4 Area 4 was awarded to the bid group comprising Philex Petroleum Corporation (Operator, 50 percent), PNOC Exploration Corporation (35 percent), and PetroEnergy Resources Corporation (15 percent).


Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Tempe, AZ
SXL- Manager, Business Development
Expertise: Business Development
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours