The energy department announced yesterday the completion of two maritime 3D seismic surveys in different locations within Palawan’s offshore basins.
Department of Energy (DOE) Secretary Raphael Lotilla announced on July 30 that Ratio Petroleum Ltd. (Ratio) and Philippine National Oil Company-Exploration Corporation (PNOC-EC) have completed their surveys in the East Palawan Basin under Service Contract (SC) 76 and in the Northwest Palawan Basin under SC 57, respectively.
“The 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,” Lotilla said.
The individual stated that the two 3D seismic surveys were conducted between March 18 and June 20 of the current year, utilizing state-of-the-art technology and procedures to get detailed photographs of the underlying geological formations.
The area covered in SC 76 was 1,619 square kilometers, while in SC 57 it was 1,519 square kilometers.
The seismic data collected will improve comprehension of the geological characteristics of the East Palawan and Northwest Palawan basins, hence aiding in the assessment of their oil and gas prospects.
“These efforts also highlight the government’s resolve to strengthening policies that support the proactive development of the country’s indigenous resources with the end goal of achieving energy security,” he added.
He said Ratio and PNOC-EC’s commitment to these seismic surveys is in line with the administration’s initiatives to advance oil and gas exploration and development in the country, increase energy security, unlock untapped resources in these basins, and expand petroleum exploration.
Ratio, an Israeli company, and PNOC-EC have hired Shearwater GeoServices to manage the seismic survey vessel SW Thuridur to collect 3D seismic data over the SC blocks 76 and 57, respectively.
