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FORUMENERGY - Offshore SC 72 Exploration
source:Suzhou Woko Valves--Focus On Valve Quality | date:2014-8-1 | visits:

 

FORUMENERGY - Offshore SC 72 Exploration

Name of Client

Forum Energy

Estimated Budget ($ US)

3,000,000,000

Facility Type

Exploration

Sector

Oil
Gas
Offshore

Status

Construction

Location

Palawan Island

Last Updated

11-07-2014

Background

Forum Energy has secured a two-year extension from the Philippine Department of Energy (DOE) to drill two appraisal wells in an offshore petroleum license, Service Contract 72 (SC 72), located in territory claimed by China in the South China Sea. Forum Energy has been planning to start on its second sub-phase work program, which involves the drilling of two appraisal wells, but it has been unable to send rigs to the license area due to interference from Chinese naval ships.

Project Status

Forum Energy confirmed that the Philippine Department of Energy has granted the Company's request for an extension to the second sub-phase of Service Contract 72 (SC 72).
The deadline for completion of the second sub-phase, comprising the drilling of two appraisal wells, has been extended by one year to 15 August 2016.

Jan 2013 Under the extended contract, Forum will need to complete drilling two appraisal wells by Aug.14, 2015.

May 2013 Forum Energy eventually sought and obtained a two-year extension from the Department of Energy in target implementation of the second exploration sub-phase of SC72 to August 2015.

 (Topco)

 
 
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