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New Oil Drilling Off West Palawan
Topic Started: Jun 5 2013, 02:55 PM (10,794 Views)
Hong Nam
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Bought by China

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Philippines extends Forum's drilling permit in S.China Sea to 2016
Thu Jul 10, 2014


(Reuters) - London-listed Forum Energy Plc has obtained approval from the Philippine government to extend by one year its drilling plan for a natural gas project in the disputed Reed Bank area of the South China Sea.

The deadline for completion of the drilling of two appraisal wells has now been extended to Aug. 15, 2016, Forum said in a filing to the London Stock Exchange.

Territorial disputes between the Philippines and China have so far hampered Forum's plan to drill two appraisal wells in the SC 72 exploration permit. In 2011, Chinese patrol vessels almost rammed a Forum-contracted survey ship in the Reed Bank.

In May, Philex Petroleum Chairman Manuel Pangilinan said Forum will likely start drilling in the Reed Bank, which the Philippines calls Recto Bank, in early 2016 despite rising tensions with Beijing. Appraisal wells are drilled to assess the size of gas or oil discoveries.


Reuters



http://s3.zetaboards.com/Defense_Philippines/single/?p=8100351&t=7665062

Philex Petroleum unit revives talks with CNOOC over joint exploration in West PH Sea
By: Krista Angela M. Montealegre, InterAksyon.com
July 18, 2014

MANILA - Philex Petroleum Corp has sent word that it is interested in reviving talks with China National Offshore Oil Co. Ltd. (CNOOC) over an oil and gas prospect off the West Philippine Sea.

Forum Energy Plc has "sent feelers" to its Chinese partner for the resumption of talks for the joint exploration of Service Contract (SC) 72, saying now is the appropriate time to resume discussions.

CNOOC has yet to respond, but its reply "will be a factor as well that would determine our own plans in 2016. Even as a matter of courtesy, we should advise them that this is what we're planning to do and so forth. We're at the basement of the discussion. This will take a long while," he added.


Interaksyon



Edited by Hong Nam, Jul 22 2014, 12:02 AM.

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Hong Nam
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Bought by China

AFP to attain minimum credible defense by 2016, drilling in West PH Sea protected
by Iara Jolo
21/07/2014


"Within our capability we will be able to extend all the necessary protection for the (British firm Forum Energy). We are getting closer to our desired state in terms of capability and readiness with our recent acquisitions, and those we are expecting to be delivered in the next few months," Defense Secretary Voltaire Gazmin said on Monday.

"We are waiting for the decision of the arbitral court so we can determine who has the marine entitlement in the area."

Gazmin emphasized that the government will not ask for permission from China.

"When you seek permission, it means the area is theirs. It is clear that the area is ours. The Armed Forces of the Philippines is drawing closer to its projected minimum defense posture with the expected deliveries of more equipment under its modernization program."

The AFP will be receiving ordered fighter jets and attack helicopters starting late 2014 to 2015. Attack helicopters from AgustaWestland for Philippine Navy and Air Force are expected to be delivered before the year ends, while 2 FA-50 Philippine version will be arriving September 2015.

New AFP Chief Lt. Gen. Gregorio Catapang, last week, vowed to protect Philippine territories including the Reed Bank.

Forum Energy is expected to start drilling early 2016.


Angmalaya

Edited by Hong Nam, Jul 22 2014, 12:03 AM.

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captdiegogarcia
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Hong Nam
Jul 22 2014, 12:00 AM
AFP to attain minimum credible defense by 2016, drilling in West PH Sea protected
by Iara Jolo
21/07/2014


"Within our capability we will be able to extend all the necessary protection for the (British firm Forum Energy). We are getting closer to our desired state in terms of capability and readiness with our recent acquisitions, and those we are expecting to be delivered in the next few months," Defense Secretary Voltaire Gazmin said on Monday.

"We are waiting for the decision of the arbitral court so we can determine who has the marine entitlement in the area."

Gazmin emphasized that the government will not ask for permission from China.

"When you seek permission, it means the area is theirs. It is clear that the area is ours. The Armed Forces of the Philippines is drawing closer to its projected minimum defense posture with the expected deliveries of more equipment under its modernization program."

The AFP will be receiving ordered fighter jets and attack helicopters starting late 2014 to 2015. Attack helicopters from AgustaWestland for Philippine Navy and Air Force are expected to be delivered before the year ends, while 2 FA-50 Philippine version will be arriving September 2015.

New AFP Chief Lt. Gen. Gregorio Catapang, last week, vowed to protect Philippine territories including the Reed Bank.

Forum Energy is expected to start drilling early 2016.


Angmalaya

2016 is the time of Pnoy's exit. I hope this timeline of the AFP to attain a minimum credible defense posture by 2016 does not end there. Implying uncertainties with whoever would be the next president.

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PinoyAko
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Quote:
 
2016 is the time of Pnoy's exit. I hope this timeline of the AFP to attain a minimum credible defense posture by 2016 does not end there. Implying uncertainties with whoever would be the next president.

This is true, well i think, that's why 2016 is their target, hmmm something is brewing between Pangilinan and the chinese government thru the chinese oil company. :nono: Remember, Pangilinan's mother company is based in Hongkong. so if dynasty from makati elected..that's the signal of declaring the contract of joint exploration... :devilwink:
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Hong Nam
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Hong Nam
Jul 21 2014, 11:52 PM
Philex Petroleum unit revives talks with CNOOC over joint exploration in West PH Sea

- Philex Petroleum Corp has sent word that it is interested in reviving talks with China National Offshore Oil Co. Ltd.

- Forum Energy Plc has "sent feelers" to its Chinese partner for the resumption of talks

- CNOOC has yet to respond

"will be a factor as well that would determine our own plans in 2016. Even as a matter of courtesy, we should advise them that this is what we're planning to do and so forth. We're at the basement of the discussion. This will take a long while."

It also buys you time.

- CNOOC hasn't responded.
- Talks will take a long time and may or may not succeed at all.
- And indications show that they are not asking permission. They are notifying them of intent whether they join or not.

This will be under intense public scrutiny.

IF a breakthrough is achieved (which I doubt), it better be advantageous to the Philippines or the people will surely oppose it and "heads will certainly roll."

As long as there are talks (or the prospect of it), then that may keep the bully at bay for now.

It may serve as a delaying tactic. A lot of things can happen in 2 years. The bastards can even park a billion dollar rig in Recto Bank if they dare - and who knows what tensions may develop and the escalation that may follow.

The talks don't really have to succeed - Either way, you will be in a better position in 2016 than you are now. Especially if a favourable ruling by the ITLOS is recieved and the arrival of new assets would be in place.

Let them talk while you keep the knives sharp in the kitchen and buy more knives too.









Edited by Hong Nam, Jul 22 2014, 04:06 PM.

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gammy322
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Philex Petroleum should reconsider reviving the talks with CNOOC over joint exploration in WPS. There are so many oil exploration companies in the world to link up with. CNOOC will just partner up and they will just spy on the possible location of their platform and once located, will put up a rig and surround it with Frigates that the PN or our PCG cannot contest with.

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Hong Nam
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PH dismisses new China protest over drilling in Recto Bank
Carmela Fonbuena
Jul 21, 2014


Maintaining that Recto (Reed) Bank is a territory of the Philippines, Defense Secretary Voltaire Gazmin dismissed China's protest against the extension of Forum Energy's permit to conduct oil drilling activities there.

Gazmin gave an assurance that the British company led by businessman Manuel V Pangilinan will be given protection. The Recto bank is located in the West Philippine Sea (South China Sea), which China claims almost in its entirety. "Within our capability, we will be able to extend all the necessary protection for them," Gazmin told reporters on Monday, July 21.

The Philippines previously accused Chinese vessels of harassing a Philex-contracted exploration vessel at Recto Bank in 2011. Despite this, Pangilinan earlier said Forum Energy was negotiating with the state-run China National Offshore Oil Corp for the joint exploration of Recto Bank.

His only condition, Pangilinan said, was for CNOOC to respect the Philippines' rights over Recto Bank.

Philippine President Benigno Aquino III has said he is willing to jointly develop Recto Bank as long as the Philippine claim is respected.


Rappler


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gammy322
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In my utmost opinion, i would not go for the joint exploration with them. CNOOC(being Chinese) can easily say yes to the terms and conditions they will contract with but once oil is explored, THEY WILL DEFINITELY change the course of the contract by saying its CHINA territory. We all know that CHINA does well in telling lies to the world.
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Hong Nam
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Caution is warranted when dealing with the CNOOC.

Hong Nam
Jul 23 2014, 12:56 AM
PH dismisses new China protest over drilling in Recto Bank
Carmela Fonbuena
Jul 21, 2014

The Philippines previously accused Chinese vessels of harassing a Philex-contracted exploration vessel at Recto Bank in 2011. Despite this, Pangilinan earlier said Forum Energy was negotiating with the state-run China National Offshore Oil Corp for the joint exploration of Recto Bank.

His only condition, Pangilinan said, was for CNOOC to respect the Philippines' rights over Recto Bank.

Rappler


Chinese Offshore Oil Company Fuels South China Sea Tension
CNOOC is using Western technology to further Chinese territorial claims.

By Thuc D. Pham
September 29, 2014




How has China developed its offshore technology?

- Chinese leaders and petroleum officials had rushed abroad to absorb offshore technology.
- Made contact with multinational petroleum companies, and they identified technology of short and longer-term importance.

Then:

1) Engage each of these companies, stimulate their interest in China, and then play them against each other. China revealed an ability to encourage several foreign entities to believe they were favored and had earned a particular confidence and friendship.

2) Multinational oil companies became major operators and bore the majority of expenses in the concession contracts, and then production sharing agreements (PSC), with the Chinese.

3) CNOOC for then acquires majority interest in the joint venture, and take over the operation of most projects.

HD981 is considered a 6th generation semi-submersible rig which can operate in waters of 3,000 meters based on a design belonging to Friede and Goldman Limited (F&G) in Houston, Texas. - A leader and innovator in offshore rig design for more than 60 years. More than 10 percent of the world's fleet of jack-up rigs, and more than 20 percent of the semi-submersible rigs.

In 2010 China Communications Construction Company Limited (CCCC) bought 100 percent of F&G, and viewed the acquisition as an important strategic step in expanding its offshore construction capabilities.




What are the implications for the SCS?

First, CNOOC has become an act.ive player in the SCS dispute. In June 2012, CNOOC offered an international tender for nine oil and gas blocks in the SCS. However, international companies showed hesitation and did not participate in the bidding because the area is within the exclusive economic zone (EEZ) and continental shelf of Vietnam. Moreover, the deployment of the HD981 in May 2014 also illustrates CNOOC's role.

Particularly during the launching ceremony of HD981 in Beijing, CNOOC Chairman Wang Yilin told audiences that large deepwater drilling rigs are "our mobile national territory and strategic weapon."

The massive acquisition of U.S. enterprises by China, including F&G, is a problem because China is using its companies as strategic tools for territorial disputes.


Second, multinational and international enterprises should be more aware of the "strategic aspect" of their business with Chinese companies for hydrocarbon exploration and development. In other words, helping China develop the capability for deep sea drilling is one thing. However, CNOOC's international partners should be aware that the way they cooperate with China fuels tensions in the SCS, which could eventually create adverse business conditions.




Thuc D. Pham is a SCS researcher at the Diplomatic Academy of Vietnam. The opinions expressed in the article are those of the author and do not represent the views of institutions to which the author is attached.

The Diplomat


Edited by Hong Nam, Sep 30 2014, 05:32 PM.

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http://www.interaksyon.com/business/113354/2-bidders-qualify-for-contracts-to-develop-new-philippine-petroleum-wells

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Two firms have qualified Tuesday for the fifth round of the Philippine Energy Contracting Round (PECR) for petroleum, which offered 11 blocks.

The two firms were Israel-based Ratio Oil Exploration Limited (Ltd) and Colossal Petroleum.

Ratio Oil Exploration Limited had bid for the fourth block located in the East Palawan Basin, which has an estimated resource potential of 1.23 million barrels.

Colossal Petroleum, on the other hand, made bids for East Palawan-based Area 5 and Recto Bank-based Area 7. Area 5 has a resource potential of 1.9 million barrels, while Area 7 has a potential of 165 million barrels.
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