Project Profile
Value: Undisclosed
Location: Offshore southwest Palawan, SC 63
Start-up Year: 2012
Area: 10,560 km2
SC 63 was awarded to PNOC EC and NIDO on November 24, 2006. SC 63 was a successful joint bid application of PNOC EC and NIDO during the DOE’s 2005 Philippine Energy Contracting Round.
The block includes the Abo-abo A-1X gas discovery well which reportedly flowed 50 million cubic feet of gas per day during test. Being on trend with the prolific Sabah Basin, SC 63 is characterised by Tertiary fluvio-deltaic to shallow marine clastics and carbonates in structural-stratigraphic combination traps.
The Joint Venture has acquired 3,254 km 2D seismic data in 2007 and 754 km2 3D seismic data in 2009. It has also reprocessed 867 km of vintage 2D seismic data in 2009. A micropaleontological and petrographic evaluation of selected SC 63 wells was also conducted under a technical cooperation arrangement between PNOC EC and the DOE’s Geoscientific Research and Testing Laboratory. The Joint Venture also conducted other G & G studies including basin modeling, petrophysical evaluation of wells, and structural studies to complement its seismic interpretation and prospect generation. Several prospects in the 3D seismic area are being evaluated as potential drilling candidates.
The Baragatan prospect lies about 30 kilometres off Palawan Island and is as a large well defined rotated fault-block prospect estimated to contain gross unrisked oil in place volumes of 676 million barrels with an upside potential of 977 million barrels. Mean risked recoverable oil volumes at the prospect are estimated to be 115 million barrels, with an upside potential of 166 million barrels. The primary reservoir objectives at Baragatan are stacked Miocene-aged Pagasa formation marine sandstones interpreted to be have been deposited in a delta front/delta slope geological setting.
Operators:
Nido Petroleum Ltd.: Operator with 50% interest
PNOC EC: 40% interest
Dragon Oil (withdrawal in November 2015)
Contractor:
UMW Standard Drilling: Drilling using new-build jack-up Naga-5