The Department of Energy (DOE) announces the completion of the offshore 3D seismic surveys conducted by Ratio Petroleum Ltd. (Ratio) in East Palawan Basin under Service Contract (SC) No. 76, and PNOC Exploration Corporation (PNOC-EC) in the Northwest Palawan Basin under SC 57.
Ratio, an Israeli Company and PNOC-EC have engaged Shearwater GeoServices to deploy the seismic survey vessel SW Thuridur and acquired 3D seismic data over the SC blocks 76 and 57, respectively. These seismic surveys were approved by the DOE as part of their work commitments in their service contracts. Both work activities were also conducted with the full support of the Provincial Government of Palawan and the national government agencies, such as the Department of Environment and Natural Resources (DENR), Maritime Industry Authority (MARINA), Department of National Defense (DND), National Security Council (NSC), Philippine Coast Guard (PCG), Bureau of Fisheries and Aquatic Resources (BFAR), Bureau of Customs (BOC), Philippine Ports Authority (PPA), Bureau of Immigration (BI), Bureau of Quarantine (BOQ), and Palawan Council for Sustainable Development (PCSD).
Conducted from 18 March 2024 to 20 June 2024, the two 3D seismic surveys spanned 94 days and utilized state-of-the-art technology and methodologies to capture high-resolution images of the subsurface geology. The surveys covered 1,619 square kilometers in SC 76 and 1,519 square kilometers in SC 57. The seismic data collected will facilitate a better understanding of the geological characteristics of the East Palawan and Northwest Palawan basins, aiding in the assessment of the basins’ oil and gas potential.
The commitment of Ratio and PNOC-EC to these seismic surveys aligns with the administration’s efforts to boost petroleum exploration, enhance energy security, and unlock untapped resources in these basins, and drive oil and gas exploration and development in the country.
"The completion of these surveys marks a significant milestone in the nation’s petroleum exploration efforts, underscoring the DOE’s commitment to pursuing high-impact activities to support inclusive economic growth and societal advancement," Energy Secretary Raphael P.M. Lotilla said.
“These efforts also highlight the government’s resolve to strengthening policies that support the proactive development of the country’s indigenous resources with the end goal of achieving energy security,” the Secretary added. ###