Nido, Dragon complete SC63 farm-out (Philippines)

Nido Petroleum Limited has informed that the first stage of the farm-out process with Dragon Oil Plc involving the transfer of a 40% Participating Interest in Service Contract 63, offshore the Philippines, has been approved by the Department of Energy.

Nido is now focusing on the second stage of the farm-out process, which subject to certain approvals being obtained, will see Nido re-acquire a net 10% Participating Interest from PNOC- EC bringing Nido’s interest to a 20% Participating Interest in Service Contract 63.

Preparations for the Baragatan-1 well are now reaching their final stages with drilling set to start in May on location in the Philippines. Nido said it would update the market as soon as the rig starts mobilisation from Singapore.

 

April 24, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Aug 2019 >>
MTWTFSS
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 31 1

OEE Conference & Exhibition 2019

OEE2019 is organised by Ocean Energy Europe, the industry association representing ocean energy in Europe.

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

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 >

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