Prime Energy Resources Development B.V. said the exploration of new wells on Service Contract (SC) 38 remains on track.
On Friday, Prime Energy announced that it awarded a USD69.9-million (PHP3.88-billion) contract to Noble for the use of its deepwater drillship “Noble Viking" for the Malampaya Phase 4 Project.
The Noble Viking drillship will be involved in drilling deepwater wells in Camago and Malampaya East fields, as well as a third exploration well, Bagong Pagasa, approximately 15 kilometers north of Malampaya.
"We are very proud of the milestones that the hard-working team of Filipinos in Prime Energy achieve month on month to ensure that we are on track for the planned drilling in 2025,” Prime Energy managing director and general manager Donnabel Kuizon Cruz said in a statement.
Cruz said the exploration activities of Prime Energy on SC 38 aims to provide reliable flow and supply of indigenous gas for Filipinos as well as protecting the consumers from the volatile oil and gas prices in the global market.
"Noble is pleased to join together with Prime Energy in this important drilling campaign which will ultimately contribute to improved energy security for the Philippines,” Noble senior vice president for marketing and contracts Blake Denton said.
Noble is one of the world's largest offshore drilling contractors.
Its Noble Viking drilling rig is state-of-the-art in its deepwater category, with Dual Derricks and integrated Managed Pressure Drilling (MPD) systems on board.
Earlier, Prime Energy awarded two contracts worth USD45 million (PHP2.5 billion) for the supply of Long Lead materials--Offshore Casing and Tubular Goods (OCTG) and Wellhead equipment.
The ongoing activities on Malampaya natural gas field is an offshoot of the extended contract period for SC 38 of another 15 years until February 2039. By Kris Crismundo
Article courtesy of the Philippine News Agency
