Offshore Drilling Expected to Begin in Philippines Next Year

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Researched by Industrial Info Resources (Sugar Land, Texas)--After years of a moratorium on offshore drilling activities in the Philippines, Australian company Sacgasco Limited (Subiaco) with subsidiary Nido Petroleum Philippines will commence drilling in the Cadlao and Nandino fields offshore Palawan by the first half of next year.

A recoverable volume of 5 million to 6 million barrels of oil is anticipated from the areas, which could lead to early oil production toward the second half of 2023.

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