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asia & oceania

Friday, 29 August, 2008, 18:10 GMT | more prices >>

Otto kicks off Philippines seismic

By Upstream staff

Australia's Otto Energy is about to begin a major seismic acquisition programme in three operated offshore blocks in the Philippines.

The Trinity 2D and 3D programme in Service Contracts 50, 51 and 55 will begin on 22 May using the CGGVeritas Pacific Sword vessel.

The shoot covers 116 square kilometres of 3D over the Calauit and Calauit South fields in SC 50; 145 square kilometres of 3D and 261 kilometres of 2D in SC 51, and 860 kilometres of 2D in Otto’s deep-water permit SC 55.

The entire survey operation is expected to be complete by the end of July 2007, after which the seismic data will be processed and interpreted and drilling plans finalised, said Otto.

Otto chief executive Alex Parks said: “We are eager to commence the seismic programme which is designed to mature our exploration portfolio in the Philippines and allow Otto to finalise drilling plans for Argao and Calauit. This data will also further assist in our plans to secure a quality farm in partner for drilling in SC 51 & SC 55”.

Drilling will begin in 2008, targeting several hundred million barrels of oil.