Where can i find this info BHP is proceeding drilling a well in SC59 ??
Its not on the BHP website ?
I cant find any recent info on the net regarding Sc59 ?
Maybe just maybe BHP havent got any contractual drilling obligations in SC59 in the near term, hence no need to cancel it as yet or make a decision on it as yet.
Now heres the only recent contractual info i can find on the DOE for SC59
Project Title
Project Location
Nature of Project
Implementing Subsidiary
JV Partners and Percent Equity
Project Description:
: Service Contract 59 – West Balabac
: Offshore SW Palawan
: Petroleum Exploration
: PNOC- Exploration Corporation (PNOC-EC)
: PNOC-EC 25% BHP Billiton Petroleum Philippines 75%
Service Contract 59 covers 14,760 sq. km. in offshore Southwest Palawan. It was awarded to PNOC EC by the Department of Energy (DOE) on January 13, 2006. SC-59 is located north of recent deep-water petroleum discoveries in offshore Malaysia and may share a common petroleum system with them.
PNOC EC acquired 2,056.475 km new 2D seismic data in November 2006 using CGG Veritas’ M/V Veritas Voyager and has satisfied its obligations with the DOE for the first two sub-phases of the SC-59 work program. Follow-up seismic program involving 363.40 km of 2D data has been completed by PGS’ M/V Orient Explorer from November 29, 2009 to December 04, 2009. A large 3D seismic survey has recently been completed with a total coverage of 3,075.85 sq km.
The Participating Agreement with BHP Billiton has been signed on November 24, 2009, which assigns BHP as the operator with 75% working interest in SC 59. PNOC EC as an active partner holds 25%.
Project Status as of June 2013:
The Consortium continues seismic data interpretation of the final outboard 2D dataset. Review and validation of the identified prospect are on-going.
"Review and validation of the identified prospect are on-going"
As of june 2013 !!!
Theyre clearly under no pressure to do anything at this stage, so obviously they'll hang onto it till push becomes shove and see how OEL goes with SC 55 and anyone else in the vicinty before chucking in the towel.
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