Project Profile
Location: Sulu Sea, Philipinnes
Reserves: 42 - 56 million barrels of oil (additional prospective resources in undrilled prospects and leads at 628 million barrels of oil to 1.127 billion barrels of oil)
Water Depths: 200 - 3,000 metres
Area: 6,220 km²
The SC56 is located in water depths ranging from 200 to 3,000 metres, covering the transition from offshore shelf to abyssal plain. The principal hydrocarbon play is contained within Miocene deepwater turbidite depositional systems in the distal setting of the Sandakan Basin. Gravity-induced thin-skinned tectonism has given rise to a number of large toe-thrust anticlinal structures which have significant hydrocarbon potential, analogous to other circum-Borneo proven deepwater toe-thrust belts, such as the Kutei Basin and NW Sabah. Mitra based on previous drillings, estimates that SC 56 contains contingent resource of between 42 million barrels and 56 million barrels of oil. Additional prospective resources in undrilled prospects and leads are estimated at 628 million barrels of oil to 1.127 billion barrels of oil.
Operators:
Total: Operator with 75% interest
Jadestone Energy (formerly Mitra Energy): With 25% interest