PNOC Exploration Corporation eyes drilling activities off Palawan in 2021

The Philippine National Oil Company-Exploration Corporation (PNOC-EC) is eyeing to start drilling activities northwest of Palawan in fourth quarter of 2021 and expects production to start in 2026 to early 2027.

“With the lifting of the moratorium, part of our plan is centered on the two service contracts that we have. One is within the disputed area and one is well inside northwest Palawan, that is SC 57 and SC 59,” PNOC-EC President and CEO Rozzano Briguez said during Senate committee hearing for Department of Energy 2021 budget on October 20.

“As to the question of whether what is the plan of PNOC-EC, it’s really now to continue with the 3D seismic study on SC 59 as well as the farming out (invite for other proponents) of SC 57,” he said.

“We also plan in proceeding to the other areas also of which we have interest and that’s SC 75 and SC 58. But right now the main two that we are interested in moving forward is 57 and 59,” Briguez added.

The former Air Force commanding general said that between SC 57 and SC 59, they see SC 57 as more promising which is in Calamian, northwest of Palawan near Malampaya. It is estimated that SC 57 is 2/3 of Malampaya.

“The timeline is in the fourth quarter next year we can start drilling, and if we will be lucky, by 2026 or early 2027, production will start for SC 57,” he said.