BHP Billiton Gets More Time to Find Suitable Rig (Philippines)

BHP Billiton Gets More Time to Find Suitable Rig (Philippines)

The Philippines Department of Energy (DOE) has approved BHP Billiton a 12 months extension to the current Exploration Sub-Phase 4 of SC55, located offshore Palawan.

The company in April filed a request for an 18 months extension to their contractual deadline to complete drilling of the commitment well from 5th August 2012 to 5th February 2014, but it will now have to finish with drilling operations before 5th August 2013.

BHP Billiton requested the extension in order to find an appropriate ultra deepwater rig with specialised well control equipment that will promote safe drilling operations on the proposed Cinco prospect within SC55. Availability of such rigs is currently limited and has been considered in the duration of the extension.

Otto Energy, which owns 33.18% in the SC55, says it “maintains its longstanding view that SC55 holds significant hydrocarbon potential and the company looks forward to seeing the drilling programme executed as soon as is safely possible.”

Otto adds that “no specific date for commencement of drilling operations in SC55 can be given until a rig has been secured.”

Offshore Energy Today Staff, May 25, 2012

 

Share this article

Follow Offshore Energy Today

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Africa Oil & Power 2019

The Africa Oil & Power conference will bring together an elite class of ministers and senior-level government…

read more >

OWI LATAM 2019

Over the two-day conference, 25+ expert speakers will share exclusive insight on how to develop an integrity, production and P&A strategy…

read more >

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

Argentina Oil and Gas Expo 2019

The Argentine Oil and Gas Institute (IAPG) organizes the Argentina Oil & Gas Expo bringing together the most…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply