Philippines DOE Approves PNOC-EC's Transfer of 10% Stake in SC 63 to Nido

Australia-based Nido Petroleum Limited (Nido or the Company) disclosed Thursday that approval has been received from the Philippines Department of Energy (DOE) for the transfer of 10 percent of PNOC-EC’s participating interest in Service Contract (SC) 63 offshore the Philippines to Nido.

The transfer is part of the two stage farm-in process related to the drilling of the Baragatan-1A exploration well in SC 63 drilled in 2014.

Participating Interests in the Service Contract are as follows:

  • Dragon Oil (Philippine SC 63) Limited: 40 percent
  • PNOC-EC: 40 percent
  • Nido Petroleum Philippines Pty Ltd: 20 percent

WHAT DO YOU THINK?

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
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
US Houston: Sr. EDI Logistics Specialist (Electronic Data Interchange)
Expertise: Logistics Management
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $54.16/BBL 0.44%
Light Crude Oil : $51.37/BBL 0.56%
Natural Gas : $3.37/MMBtu 2.12%
Updated in last 24 hours