 The Philippine Government has granted eight (8) new Petroleum Service Contracts (PSC’s) to various companies, including one (1) to Anglo Philippine Holdings Corporation, which is among the contractors. Nominated Area No. 10 (formerly SC 6A – Octon Block)
As part of the proposed work program, the Joint Venture will focus on appraising the Octon discovery for a potential tie-back to the Galoc oil field and will also identify a drilling location to test the Malajon-Salvacion-Saddle Rock prospect. The Department of Energy (DOE) will manage the contract under the Philippine Conventional Energy Contracting Program (PCECP). The new Petroleum Service Contract authorizes Anglo and its Joint Venture partners to explore, develop, and eventually produce petroleum resources within the specified area. |
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