Forum Energy Gets SC72 Licence Extension, Philippines

Forum Energy, the UK incorporated oil and gas exploration and production company with a focus on the Philippines, confirms that the Philippine Department of Energy has granted the Company’s request for an extension to the second sub-phase of Service Contract 72 (“SC72”).

The deadline for completion of the second sub-phase, comprising the drilling of two appraisal wells, has now been extended by one year to 15 August 2016.

Forum Energy holds 70% interest in SC72 (Recto Bank), an offshore licence which contains the Sampaguita Gas Field as well as several oil and gas leads.

In 2006 Count Geophysics and Oilfield Production Consultants (OPC) Limited produced an Evaluation Report covering SC72. The report indicated mean resources of 3.4 TCF Gas in Place (GIP) with potential upside ranging up to 20TCF Gas in Place (GIP).

Press Release, July 09, 2014

Share this article

Follow Subsea World News

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Global Petroleum Show (GPS)

The Global Petroleum Show Conference is a comprehensive three-day program where…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Decom Offshore 2019

As an established industry event, Decom Offshore 2019 provides delegates with the valuable opportunity to network…

read more >

OWI WA 2019

West Africa’s only dedicated Offshore Well Intervention Conference is returning for its second year…

read more >