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).
WHAT DO YOU THINK?
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.
- Saudis Remind Global Oil Market Who is King
- Debt Ceiling Deal Becomes Law
- Rerouted Oil to Soften Russian Economy Contraction: World Bank
- ConocoPhillips Starts Nuna Oil Field Development in Alaska
- USA Aims to Raise Clean Hydrogen Output to 10 MMT Yearly
- India's MRPL Redirects Growth Plan from Refinery to Chemicals
- Exxon CEO Tells Europe to Follow USA Approach to Climate Action
- Global Electricity Access Growth Slows in Past Three Years: IEA
- Analyst Flags Downward Trajectory of USA Henry Hub Prices
- Singapore's Sembcorp Inks Deal for Natural Gas from Indonesia
- Further OPEC+ Production Cuts Are Still on the Table
- Saudi to Cut Output by 1MM BPD in Solo OPEC+ Move
- Data Science is the Future of Oil and Gas
- India to Boost Renewables Capacity, Avoid New Coal Plants
- Kinder Morgan to Expand Gas Capacity at Texas Gulf Coast Facility
- USA Steel Major Taps ExxonMobil for Carbon Capture
- Aramco Holds Talks with Turkish Firms on $50B Planned Projects
- Hourly Pay for Shale Workers Tops $43
- What Do Latest OPEC+ Moves Mean?
- Chevron to Have Wastewater Pipeline for Permian Operation
- Which Generation Is Most in Demand in Oil, Gas Right Now?
- Who Is the Most Prolific Private Oil and Gas Producer in the USA?
- USA EIA Slashes 2023 and 2024 Brent Oil Price Forecasts
- BMI Reveals Latest Brent Oil Price Forecasts
- Is There a Danger That Oil and Gas Runs out of Financing?
- BMI Projects Gasoline Price Through to 2026
- What Will World Oil Demand Be in 2023?
- North America Rig Count Reduction Rumbles On
- What New Oil and Gas Jobs Will Exist in the Future?
- What Does a 2023 USA Recession Mean for Oil and Gas in the Country?