Philippines

Exploration Analysis

The Philippines is striving to join the ranks of other East Asian industrialized countries and, in order to achieve this objective, the government is pursuing energy self-sufficiency as one of its primary goals.

As of January 1, 1994, the Philippines had reserves of 279 MMBBLS of oil and 2.98 TCF of natural gas. Production of 10,000 BOPD was derived from two offshore complexes, Nido and West Linapacan.

Geologically, the Philippines is located near the junction of three major tectonic plates. In this area there are thirteen Tertiary basins that belong to two broad geotectonic units – the Island Arc System and the Passive Margin.

The North Palawan-Mindoro Basin is currently the Philippines’ only petroleum province, containing all of the commercially viable hydrocarbon pools. To date, 65 wells have been drilled, resulting in 23 oil and 7 gas and condensate discoveries. Much of the current activity is centered in deep water (deeper than 750 metres), where Shell (Malampaya) and Occidental (Camago) have recently made very significant discoveries in Miocene reef reservoirs.

Exploration acreage - in the form of a Service Contract - can be acquired after direct negotiations with the Philippine government. While blocks in the highly prospective North Palawan-Mindoro Basin are scarce, there is considerably more open acreage in less-explored basins.

At present, the Philippines have three refineries with a total capacity of about 279,000 BOPD. Services are readily available including drilling, testing and logging. A gas pipeline could potentially be built from the most recent discoveries to Luzon Island where there is a vast untapped market for natural gas.

For more information contact:

Leslie Sears
Petrel Robertson Consulting Ltd.
500, 736- 8th Avenue S.W.
Calgary, Alberta
T2P 1H4

Phone: (403) 218-1618
Fax: (403) 262-9135
lsears@petrelrob.com
Note:

This summary, part of Petrel Robertson’s 1995 summary of exploration and development opportunities in 31 countries around the world, has not been updated. Some of the information, particularly relating to political and economic issues, is thus out of date. It is included, however, to demonstrate the breadth and depth of Petrel’s work in each of these nations.

Copyright © 2014 Petrel Robertson Consulting Ltd.