Philippines state-owned upstream company PNOC Exploration Corporation (PNOC EC) is looking for a farm-in partner or partners to take an operated majority stake in a block offshore Palawan, where exploration drilling is planned.
PNOC EC wants players to come on board its Service Contract 59, which is located west of Balabac Island. The national company currently holds the 100% operating stake in SC 59 (West Balabac), which it was awarded 17 years ago.
The 14,760-square kilometre SC 59 is located offshore Southwest Palawan, north of deep-water gas discoveries made offshore Sabah, East Malaysia.
