Programs and Projects
Oil and Gas
RAGAY GULF (SC #43)
DESCRIPTION:
The Ragay Gulf lies within the marginally explored southern Luzon sedimentary basin which has been ranked by the Philippine Department of Energy (DOE) as second to the producing northwest Palawan area in terms of hydrocarbon prospectivity.
In January 2004, Service Contract 43 has been awarded to a consortium composed of Premier Oil, PEARL Oil and PNOC-EC to conduct exploration in the Ragay Gulf area covering an area of 1.088 million hectares. To date, numerous offshore petroleum prospects involving pinnacle reefs, inversion structures, tilted fault blocks and carbonate buildups on basement highs, to name a few, have been mapped in the region. These prospects are in ideal water depths of from 50 to 150 meters and, generally, lie just 20 kilometers from the mainland of LUzon, where the bulk of the Philippines' energy demand is located. New 2D transition zone seismic data totaling 150 kms. was acquired in August 2005.
STATUS:
In March,2006 PNOC-EC conducted reconnaissance fieldwork and preliminary paleontologic analysis of early Neogene Limestones in Northwestern Burias Island in April.