JV Partners and Percent Equity : PNOC EC 100%
Project Description: SC 59 was awarded to PNOC EC by the DOE on 13 January 2006. It covers an area of 14,760 km2 in offshore Southwest Palawan and is located north of the deep-water gas discoveries in offshore Malaysia.
BHP Billiton farmed-in into SC 59 in 2009 acquiring 75% working interest and operatorship but later withdrew in 2013.
Brief Background : In 2006, PNOC EC acquired about 2,000 km of 2D seismic data to promote the area. This was successful with BHP farming-in. As part of their commitment, BHP acquired 3,000 km2 of 3D seismic data and 5,000 km of 2D seismic data. Their seismic program, one of the largest by a single company in the Philippines, resulted in several drillable targets.
In 2016, about 3,000 km of 2D data was acquired and processed in the shallow-water portion of the block. It also includes the acquisition of gravity and magnetic data. These new data aims to identify shallow-water drilling targets to complement the deepwater prospects earlier identified.
PNOC EC now holds 100% interest and is farming-out the block.
As of May 2018