Contractors cap seismic survey in potential Palawan oil, gas sites
‘Completion of these surveys marks a significant milestone in the nation’s petroleum exploration efforts, underscoring the DoE’s commitment to pursuing high-impact activities to support inclusive economic growth and societal advancement’
Photo from PNA
In the resource-rich province of Palawan, two contractors — one an Israeli firm and the other a Philippine government-run entity — made significant progress in their separate quests to identify potential sites for additional oil and gas reserves.
The Department of Energy (DoE) said on Tuesday that Ratio Petroleum Ltd. (Ratio) in East Palawan Basin under Service Contract No. 76, and PNOC Exploration Corp. (PNOC-EC) in the Northwest Palawan Basin under SC 57 completed their offshore 3D seismic surveys.
Ratio, an Israeli company, and PNOC-EC have engaged Shearwater GeoServices to deploy the seismic survey vessel SW Thuridur and acquired 3D seismic data over the SC blocks 76 and 57, respectively.
Deeper understanding of gas, oil potentials
According to Energy Undersecretary Alessandro Sales, the collected seismic data will contribute to a deeper understanding of the basins’ oil and gas potential, aiding in their assessment and potential development.
Amid these recent developments, Energy Undersecretary Alessandro Sales said the data processing, analysis, and evaluation could take at least a year and a half to complete.
“It will be a long process,” he said.
From March to June, two 3D seismic surveys took place over 94 days. Utilizing cutting-edge technology and methodologies, the surveys captured high-resolution images of the subsurface geology in the East Palawan and Northwest Palawan basins.
Encompassing 1,619 square kilometers in SC 76 and 1,519 square kilometers in SC 57, the surveys provided a comprehensive overview of the regions’ geological characteristics.
Significant milestone
“Completion of these surveys marks a significant milestone in the nation’s petroleum exploration efforts, underscoring the DoE’s commitment to pursuing high-impact activities to support inclusive economic growth and societal advancement,” Energy Secretary Raphael P.M. Lotilla said.
“These efforts also highlight the government’s resolve to strengthen policies that support the proactive development of the country’s indigenous resources with the end goal of achieving energy security,” he added.