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The AAPG/Datapages Combined Publications Database

Southeast Asia Petroleum Exploration Society (SEAPEX)


Proceedings of the 2003 South East Asia Petroleum Exploration Society (SEAPEX) Conference, 2003
Pages 1-42

The First Philippine Petroleum Public Contracting Round (PCR-1)

Eduardo V. Mañalac


The DOE is ready to assist in any possible way, those who may be interested to explore in the Philippines. The Public Contacting Round (PCR-1) has new information, excellent contractual terms and conditions and areas that are highly prospective. PCR-1 has 137,000 line km 2D seismic, 3,600 km2 3D seismic and 144 wells. New, high quality seismic data in NW Palawan, Sulu Sea and East Palawan basins area also available. PGS MC3D Surveys for NW Palawan include 897 km2 in NW Palawan and 1,112 km2 in Malampaya with 916 km2 3D over open acreage. The Malampaya High Resolution MC3D was the first to be acquired in Asia Pacific. NW Palawan 3D (~3,500 km2), Palawan 2D (~4,800 line km), Sulu Sea and East Palawan 2D Surveys (> 5,700 line km) were completed by WesternGeco. This 3D and 2D covers significant area of Sandakan basin which is analogous to the petroleum rich Baram and Tarakan deltas. PCR-1 offers high petroleum potential with proximity to proven petroleum provinces. NE Palawan and SW Palawan are already proven oil/gas provinces, E Palawan and Sulu Sea are surrounded and near similar oil/gas geology in Malaysia, Brunei and Indonesia, and Reed Bank is analogous to some Vietnam/S. China oil structures. A total of 46 contracts are being offered (~222,00 km2) in shallow to ultra deepwater areas. The Philippines is an attractive area with prospectivity, good economics and a market ready to accept new exploration.

Presented at: 2005 South East Asia Petroleum Exploration Society (SEAPEX) Conference, Singapore, 2003

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