Philippines deals out $82m in contracts
The Filipino government handed out five service contracts worth about $82.2
million for four projects in the southern area of the country.
Two of the contracts went to Burgundy Global Exploration and one each to
NorAsian Energy Philippines, Helios Petroleum and Gas and Miocene Mining and
Energy, according to Dow Jones.
Helios and Miocene are units of Burgundy.
The contracts are for oil and gas exploration projects in Eastern Palawan,
Cagayan Basin, the East Visayan Basin and the Agusan-Davao Basin.
Helios will explore a 488,000-hectare area in the Agusan-Davao basin,
NorAsian will look for oil and gas in a 7,004-square-kilometre area in the
East Visayan basin, Miocene will cover an 860,000-hectare area in Cagayan
Basin, and Burgundy will explore two areas in East Palawan.
07 May 2008 18:55 GMT
| last updated:
07 May 2008 21:54 GMT
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