Phinma...

A new work program for SC 6 Block A in offshore northwest Palawan intended to drill wells was earlier submitted to the DOE.

The proposed work program is composed of seismic interpretation and mapping and integration of quantitative inversion results that will serve as input to preliminary well design and costs estimates.

PPGI has a 7.78 percent interest in SC 6 Block A. Its partners include Pitkin Petroleum, Philodrill Corp., PetroEnergy Resources, Philex Petroleum, Forum Energy Philippines, Anglo-Philippine Holding and Alcorn Gold Resources.

Meanwhile, more studies will be done in SC 55 in west Palawan after subsidiary Palawan55 Exploration & Production Corp., was cleared to assume its proportionate share in the outstanding training fund obligation of former operator, Otto Energy, and to undertake specialized geophysical studies that will reassess the prospectivity of the block in light of the gas discovery in Hawkeye-1 well.

In 2015, former operator Otto Energy said the Hawkeye-1 well was not commercially viable for gas and petroleum production.

Prior to the DOE approval, Palawan55 holds a 6.82 percent participating interest in SC 55 with other partners Century Red Pte. Ltd. with 15 percent and Pryce Gases Inc. (10 percent).