PNOC-EC chairman Jacinto Paras said its new partner is expected to initially invest $100 million on exploration including the drilling of at least two wells.
The companies plan to jointly explore SC 59, also known as West Balabac, and new 2D seismic surveying is expected to start before the end of the year.
PNOC-EC has contracted PGS Orient Explorer to acquire 200 kilometres of line seismic in the block as part of a group shoot in the Filipino waters.
The
