Action offshore Palawan THE PHILIPPINES DEPARTMENT OF Energy has awarded service contract 50 to a joint venture between the AustralAsian Consortium (AAC), consisting of AustralAsian Energy, Middle East Petroleum Services, RGA Resources and Ottoman Energy for the Calauit 1A and 1 B oilfields, located off the northwest coast of Palawan Island. .........
The 50:50 JV in SC 50 containing the Calauit oilfields calls for extended production testing scheduled to commence July 2005 with a targeted oil production of between 7500 and 15,000b/d. .................................... . ...... AustralAsian Energy is chaired by Rufino Bomasang, former president of a PNOC subsidiary, and its CEO is Ken Fellowes, principal of Middle East Petroleum Services.
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