Project Profile
Location: Northwestern Palawan, MIMAROPA region or Region 4, Philippines
Reserves: 14 million barrels of oil
Area: 5,000 sq km
Service Contract 50 (SC 50) is located in northwestern Palawan, Philippines. Palawan or officially Tagalog, is an island province of the Philippines that is located in the MIMAROPA region or Region 4. The contract covers an area of 5,000 sq km, including the proven Calauit oilfields. The Calauit fields has been the subject of comprehensive technical analysis over an extended period, and proving the existence of a compelling commercial quantity of recoverable oil. Further in-depth studies have indicated a potential in excess of 14 million barrels of oil, far greater than previous assessments of between 3.1 million and 7 million barrels of oil. These studies have also allowed the company to engineer the intended development wells to target the most efficient drilling locations and optimise production rates accordingly.
Operators:
Frontier Oil Corporation (through Frigstad Energy): Operator with 90% interest
Trans-Asia Petroleum: 10% interest