SC 62
SC 62
The SC 62 Block has an area of 1,302,000 hectares located in offshore southeast Palawan Island, southwest Sulu Sea, and northeast of Sabah Malaysia. The Block has 10 prospects and leads and one gas discovery discovery well.
SC 62 covers PECR 2005 Area 3 which is located in Offshore East Balabac in southwestern Sulu Sea. The proximity of the area to the oil-prolific offshore areas of of Borneo and Palawan makes the area rather interesting in terms of petroleum prospectivity.
SC 62 covers PECR 2005 Area 3 which is located in Offshore East Balabac in southwestern Sulu Sea. The proximity of the area to the oil-prolific offshore areas of of Borneo and Palawan makes the area rather interesting in terms of petroleum prospectivity.
In 2008, BGEC has partnered with Union Fenosa Gas S.A. for oil and gas exploration in the Service Contract 62 area located in offshore Balabac Island, Palawan of southwestern Sulu Sea.
SC 62 was awarded to BGEC in 2006 by the Philippine Department of Energy after a competitive bidding round. Union Fenosa Gas is a company jointly owned by the Union Fenosa Group of Spain and the Eni Group of Italy, and is involved in international oil and gas exploration and production, transportation, storage, trading and distribution. Union Fenosa Gas formed a local subsidiary named Palawan Sulu Sea Gas Inc. (PSSGI) to conduct its upstream petroleum operations in the Philippines under SC 62.
SC 62 was awarded to BGEC in 2006 by the Philippine Department of Energy after a competitive bidding round. Union Fenosa Gas is a company jointly owned by the Union Fenosa Group of Spain and the Eni Group of Italy, and is involved in international oil and gas exploration and production, transportation, storage, trading and distribution. Union Fenosa Gas formed a local subsidiary named Palawan Sulu Sea Gas Inc. (PSSGI) to conduct its upstream petroleum operations in the Philippines under SC 62.
The joint venture of BGEC and PSSGI conducted a marine seismic survey over SC 62 area in 2009, resulting in the acquisition, processing and interpretation of a total of 2,432 line-kilometers of seismic data at a total cost of at least 4.86 Million U.S. dollars.