Dutch firm Fugro NV is expected to enter into an agreement with the Department of Energy (DOE) for a “multi-client” seismic acquisition program in the West Palawan area.
A DOE official, who requested anonymity, said the data to be furnished by Fugro will allow the DOE to assess future prospects in the exploration area.
An expert in oil exploration data gathering, Fugro specifically conducts basin and prospect evaluation, reservoir appraisal and field development.
Fugro, formed in 1962, also undertakes acquisition, processing and interpretation of geophysical and geological data, reservoir modelling and estimation of the presence of oil, gas, minerals and water.
The DOE has been promoting oil exploration business in the country by allowing investors to study various exploration areas.
The DOE has considered West Palawan as one of the potential areas for oil reserves. The area is composed of Northwest Palawan, Southwest Palawan and the Reed Bank.
Based on initial data, about nine billion barrels of oil can be extracted from the West Palawan and the Sulu Sea.
There have been several oil and gas exploration programs in the West Palawan area since the 1960s.
In the early 1970s, the Philippines introduced the service contract system and oil exploration firms started to acquire 2D and 3D seismic data.
In 1976, Philippine Cities Service drilled Nido-1, which became the first oil discovery in the Northwest Palawan basin.
The Dutch company supports its clients in their search for natural resources and the development, production and transportation of those resources.
Fugro’s data collection equipment includes around 50 vessels, hundreds of CPT (cone penetration test) and drilling units, 50 aircraft and helicopters, more than 100 ROVs (remotely operated vehicles), and four AUVs (autonomous underwater vehicles), as well as advanced (satellite) positioning systems.