SC 76 is located in the Northern East-Palawan Basin, offshore the Philippines, where oil and gas shows and a non-commercial oil discovery have been found in near-offset wells. We have identified two primary prospective plays: (1) Extensive Miocene fan complexes and a deep water turbidite play that holds potential for stratigraphic and structural traps; (2) Oligo-Miocene carbonate buildups play. More than 20 leads have been mapped throughout the block, some of which are substantially large, covering areas of up to 750 sq km.

The 6570 sq km SC 76 is located on the northern side of the East-Palawan Basin in water depths ranging between 800 m and 1700 m. The sedimentary fill in the Basin reaches up to more than 10 km in local depocenters, providing considerable conditions for a petroleum kitchen. Data from wells within and in proximity to the basin present several organic-rich intervals, of both terrestrial and marine origin.

The interpretation of the available seismic datasets shows that the Northern East-Palawan Basin comprises a well-developed slope-to-basin channel system, which resulted in extensive accumulations of turbidite deposits, interbedded with pelagic fine clastics. Isolated carbonate buildups (Malampaya analogue) are interpreted within SC 76 and located primarily above and on the margins of volcanic highs, providing a potential of large structures and excellent reservoirs. Ratio’s integrated work program has resulted in the identification of numerous leads that emphasize the prospectivity of the Basin. Several leads show prominent AVO anomalies, supporting the concept of the basin being gas prone. This is an opportunity to take part in the next exciting phase of planning and acquiring 3D seismic, which will unravel the full potential of SC 76 and its prospects.