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Drilling in Recto Bank delayed to 2015
Topic Started: Jan 29 2013, 07:15 PM (1,146 Views)
raider1011


Project delayed by Philippine-China sovereignty row
By Amy R. Remo
11:37 pm | Monday, January 28th, 2013

Philex Petrolem Corp., a major shareholder in Forum Energy, reported to the Philippine Stock Exchange on Monday that the Department of Energy granted the extension for the drilling of appraisal wells.

“The deadline for completion of the second sub-phase, comprising the drilling of two appraisal wells, has now been extended by two years to Aug. 14, 2015,” the disclosure read.

The two-year extension was needed as the consortium that operates SC 72 has been facing delays due to sovereign claims issues. . . .

Forum Energy, which owns 70 percent of the SC 72 license, and Monte Oro Resources Energy, which holds the remaining 30 percent, were supposed to start drilling the first of the two appraisal wells within the highly prospective Sampaguita prospect by March this year.

The group, however, has yet to secure approval to proceed with the geotechnical survey needed prior to drilling. The SC 72 consortium has sought for the permits from the Department of Energy in July 2011.

“I would say it’s unlikely [that we complete the drillings] given that the weather window is March to April and it takes a while to mobilize. In our work program, we need a survey first on site to determine the sea basin for stability for an oil rig, on a certain size and weight, plus to determine the baseline on where we will drill—that’s the requirement of the government,” Pangilinan explained.

The DOE earlier announced that that it has deferred to the Department of Foreign Affairs the decision to grant permits concerning the exploration and drilling activities at the highly contested Recto Bank because the area was part of the disputed waters being claimed by China.

Inquirer


Time and money down the drain :headbang:
God grant me the courage not to give up what I think is right even though I think it is hopeless.

|| Chester W. Nimitz

Loyalty to the Nation ALL the time, loyalty to the Government when it deserves it.

|| Mark Twain
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Prinsipe Abante
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Quote:
 
The DOE earlier announced that that it has deferred to the Department of Foreign Affairs the decision to grant permits concerning the exploration and drilling activities at the highly contested Recto Bank because the area was part of the disputed waters being claimed by China.


In my opinion, hindi sana dapat sila nag re-release ng ganitong statement if we truly believe na teritoryo natin ang RECTO BANK.
Much better if just "Deferred for the mean time!"
mas ok na rin ito, let's wait till we have something to protect them territories, sana lang dumating on time.. :armywink:

Edited by Prinsipe Abante, Jan 29 2013, 07:42 PM.
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gammy322
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How come they keep on planning to drill on the WPS where in we have conflict? Why not start on Benham Rise where we have no conflict with other countries. D b mas maganda mag umpisa n lng dun para namn once we drilled oil/gas, we can have enough money and budget to support our economy and eventually will have enough money to support our AFP Modernization.... :armycheers: :patrioticpinoy:
Edited by gammy322, Jan 29 2013, 07:37 PM.
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Mckoyzzz
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Ipsa Scientia Potestas Est
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Don't worry mate, because 5 firms are expected to start drilling for oil on Benham Rise in 2013...
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"Do not condemn the judgment of another because it differs from your own. You may both be wrong -- Dandemis"
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pachador


pag-dumating na yung mga armas, they will start drilling in reed bank. that would be mga 2015 nga kasi 5 year plan itong 75 billion weapons buying progam


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raider1011


Pangilinan optimistic on Recto Bank drilling

Philippine Star

Quote:
 
March 1, 2017

Reports said Duterte is set to visit China again in May to attend the “One Belt, One Road” summit in Beijing. ...

The Department of Energy issued a moratorium on all exploration and drilling works in SC 72 and SC 75 in December 2014 and 2015, respectively, amid the rising maritime tension with China. ...

“It’s up to them to release the moratorium. If they do then we’ll advice the (prospective) Chinese (partners) that we’re gonna do this. This is our work program approved by our government just to let you know,” Pangilinan said.

Forum has previously engaged in talks with China National Offshore Oil Co., China’s state-owned oil producer, for a possible commercial arrangement covering Recto Bank.
God grant me the courage not to give up what I think is right even though I think it is hopeless.

|| Chester W. Nimitz

Loyalty to the Nation ALL the time, loyalty to the Government when it deserves it.

|| Mark Twain
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