Programs and Projects
Oil and Gas
NORTHWEST PALAWAN (West Balabac - SC #59)
DESCRIPTION:
The West Balabac area is found off the southwesternmost tip of Palawan. South of the area lies the Malaysian border where several offshore oil and gas fields trending northeast are currently in production off the coast of Sabah and Brunei. Recently, Murphy Oil discovered the giant Kikeh Field, estimated to contain 400-700 million barrels oil, in the deepwater area of Sabah considered Malaysia's first deepwater discovery. Although there is still no production on the Philippine side, PNOC-EC's interpretation shows that the active petroleum system existing in offshore MaLaysia and Brunei continues northward into the western Balabac area. Based on the developed, offshore southwestern Palawan, including west Balabac, forms the leading edge of the Asian margin that subducted along the Palawan Trough beneath a younger oceanic fragment west of the Sulu Sea. Previous wells drilled in the area targeted anticlines within the acretionary prism associated with the subduction. The sedimentary section above the continental crust is an attractive exploration objective in this underexplored part of southern Philippines. It lies mostly in deepwater and is along the trend of the oil and gas fields of Sabah and Brunei.
Primary objective is the Miocene turbidite sands, which has been proven on the Malaysian side. The Early Miocene Nido reef on this part of the basin has not been identified yet and can be secondary targets if mapped.
STATUS:
DOE awarded the Project Service Contract (SC #59) to PNOC-EC in January,2006. The Project was presented to PTT Exploration and Conoco Phillips in February, for a possible Farm-In Agreement. Preparations of seismic programs for both projects still ongoing. West Balabac was also presented to TAP Oil Limited in May for a possible Farm-In Agreement.