A drillship has been secured for the Nandino offshore exploration well in the Philippines from which the joint venture owners hope to generate early production in the event of commercial success.

The partners in Block SC54 offshore Palawan are Sacgasco subsidiaries Nido Petroleum and Yilgarn Petroleum, and TG World Energy, a subsidiary of Blue Sky Resources.

The partners have advised the Philippines Department of Energy of their intent to drill a well in Block SC54 in the year commencing 8 August 2022, said Australian-listed Sacgasco.

The Nandino prospect is targeting 27 million barrels of recoverable oil from 91 million barrels of oil in place (mean, unrisked prospective resource), and lies updip and on-trend with four other oil discoveries in Block SC54.

New to the venture, TG World has sourced the drillship Deep Venture to drill the Nandino 1 well, added Sacgasco. The dynamically positioned drillship DP2 is currently capable of operating in water depths of between 90 and 1300 metres.

Sacgasco: Philippines acreage Photo: SACGASCO

The Deep Venture is owned by Blue Sky’s Indonesian subsidiary Angkasa Biru Servis Indonesia. The drillship is currently undergoing preparation for drilling and is expected to drill Nandino as soon as practicable after requisite regulatory and corporate certifications and acceptances, said Sacgasco.

The post-farm-in interests for Block SC54 will be Nido and Yilgarn on 51.25% and TG World on 48.75%.

Blue Sky’s president Ilyas Chaudhary said: “Blue Sky has procured the Deep Venture drillship as the vessel to facilitate an extensive drilling campaign offshore the Philippines.

“The drillship has many logistical advantages and can serve as a versatile platform for early production and testing over a wide range of water depths.”

Sacgasco’s managing director Gary Jeffery said: “I believe that the chance of making a discovery at Nandino is very high given its location at a regional high in the proven Nido Limestone oil play.

“More specifically, Nandino is updip, on a clear trend of discovered oil, all interpreted to be ‘filled-to-spill points’ and located on the greater Nandino structure.

“It should be noted that the Tindalo substructure is interpreted to be in communication with the greater Nandino prospect areas through the oil column, but the Tindalo resources are not separately assessed in the current prospective resources assessment.

“As Tindalo was an oil discovery, any resources assessed in Tindalo would qualify to be classified as contingent resources under the Petroleum Resources Management System classification. I eagerly look forward to implementing our high-impact drilling programme in the Philippines,” Jeffery added.

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