InterAksyon.com
The online news portal of TV5
MANILA, Philippines – The exploration arm of state-owned Philippine National Oil Co. (PNOC) will drill for gas at the Mangosteen oil prospect.
PNOC-Exploration Corp. (PNOC-EC) told the local bourse on Wednesday that its board cleared the drilling at the 360-kilometer area in the Cagayan Basin covered by Service Contract 37.
The San Antonio gas field within SC 37 had produced 3.7 million cubic feet of gas to run a three-megawatt power plant before the operator shuttered the will in 2008 amid thinning output.
The San Antonio field’s output provided electricity to 10,000 families in the municipalities of Echague, Jones, San Agustin and in the city of Santiago for 14 years.
Besides SC 37, PNOC-EC also will drill an exploration well in SC 63, which is in southwest Palawan.
The company has interests in eight petroleum service contracts and five coal operating contracts in the country.
