Project Profile
Value: ~ US$ 700 millon
Location: Offshore Palawan, SC-38
Reservoir Depth: 3,332 - 3,388 m
Startup Year: 2011
The project will see the development of an oil rim. The Camago-Malampaya oil leg is estimated to contain around 41 million barrels of oil. The reserve lies beneath the huge stock of natural gas in the field, which is operated by Shell Petroleum Exploration B.V. and its partners, Chevron Malampaya LLC and PNOC-EC.
The Camago-Malampaya Oil Leg is a 56-meter thick oil zone that occurs right below the 600-meter thick gas cap being produced by the Service Contract No. 38 consortium since October 2001 as part of the Malampaya Deep Water Gas-to-Power Project. This oil rim was initially discovered with the drilling of Malampaya-1 well in 1991 but was considered at the onset as a separate development from the much larger natural gas reserves comprising the bulk of the Malampaya petroleum resources. The Malampaya oil zone occurs at a vertical depth of 3,332 to 3,388 meters below sea level in a Late Oligocene carbonate reservoir composed of packstones and reef debris.
The government has been eagerly pursuing the development of the CMOL to help reduce the country\'s dependence on imported oil. On November 29, 2005, President Gloria Macapagal-Arroyo issued Executive Order (EO) No. 473 which tasked the DOE to immediately develop and produce the oil from the Camago-Malampaya reservoir. This led to the signing of the Terms of Service between the DOE and PNOC on March 17, 2006. However, from recent research in 2016 by the ProjectsOGP team, it was found that, Burgundy Global Exploration Corp. (BGEC) no longer appear associated with this project.
Operator:
Philippines National Oil Company Exploration Corp
Contractors:
Nexus Floating Production Ltd.: FPSO (contracted in 2008 for a lease of 7 years)