SC 75 NW Palawan

PXP Energy Corporation: 50%

SC 75, formerly Area 4 under the Fourth Philippine Energy Contracting Round (PECR 4), was signed on December 27, 2013 with a 7-year term divided into 5 sub-phases.


Exploration

The work commitment for Sub-Phase 1, which ended on 27 December 2015 had been fulfilled. The exploration activities completed under the first sub-phase include simultaneous acquisition of 2,235 line-km of 2D seismic, gravity, and magnetic data over the block from March to April 2014. In addition, the consortium also participated in a NW Palawan regional satellite gravity data interpretation project together with other operators.

Processing and interpretation of the 2014 gravity and magnetic data was completed in February 2015. Seismic data was processed using broadband techniques and was completed in April 2015. G&G studies, including 2D seismic interpretation, were completed in July 2015.

SC 75 is also currently under Force Majeure (FM) since 27 December 2015 due to the West Philippine Sea maritime dispute. The Consortium plans to acquire 3D seismic data over selected leads once the Force Majeure is lifted.