BHP Billiton will Start drilling Oil and Gas near Recto bank Q1-2013

A 1 kilometer deep Oil and Gas Drilling would be Started First Quarter of 2013 near Recto Bank 

BHP Billiton has committed to conduct drilling works in an offshore natural gas field in northwest Palawan, Energy Undersecretart Jose Layug Jr. said yesterday.

 

The Department of Energy (DOE) is looking at Service Contract (SC) 55 as the potential next big gas field after the Malampaya gas-to-power project.

 

"While we have been looking at Recto Bank as the next Malampaya, one of the SCs we are very positive about is SC 55," said Layug.

 

Layug said the exploratory drilling of the Cinco well is expected in the first quarter of 2013.

 

The petroleum unit of BHP Billiton, which is the largest mining firm in the world, has a 60-percent stake in SC 55. Other stakeholders are Australia's Otto Energy Ltd. (33.18 percent) and Trans-Asia Oil and Energy Development Corp. (6.82 percent) of the Phinma Group.

 

While the market for drill rigs is getting tighter amid numerous exploration projects worldwide, BHP Billiton is already conducting negotiations for two rigs, Layug said.

 

High prices of fossil fuel have encouraged foreign and local firms to invest in oil and gas exploration.

 

Layug said the potential resource in SC 55 is trillion cubic feet (TCF) of natural gas, slightly lower than Malampaya's 2.7 TCF.

 

SC 55 covers an area of 9,000 square kilometers and is located in offshore Palawan. It is located on a regional oil and gas fairway that extends from the productive Borneo offshore region in the southwest to the offshore Philippines production assets northwest of Palawan

 

"We are hoping that Cinco will be the gas reserve that can backfill Malampaya as we look for potential resource of natural gas," Layug said.

 

The Malampaya project fuels three natural gas projects that that supplies up to 45 percent of Luzon's power generation requirements.

 

The license for SC 38 that allows the exploration of the Malampaya gas field in northwest Palawan will expire in 2024, with production expected to decline starting in 2015.

ABS-CBN News

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5 Visayas OFWs Bagged MOFYA Awards Plus ₱P600,000 Cash

 

FIVE overseas Filipino workers (OFWs) were given certificates of recognition yesterday as nominees in the OFW awards for maintaining strong family relations and keeping family values despite being away from home.

 

The awards were given to land-based and sea-based OFWs.

 

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For the sea-based awards, the nominees for the Model OFW Family of the Year Award (Mofya) were the families of Henry Joseph Rabillas of Kimba, Talisay City; Venancio Rolloque of Lawaan, Talisay City; and Capt. Silvano Tabigue of Mabini, Bohol.

 

For the land-based awards, the nominees were the families of Eva Maglahus of Poro, Camotes, Cebu; and Engr. Herculano Omambac Jr., of Naga City.

 

The certificates were given by the Overseas Workers Welfare Administration (OWWA) 7 Director Wilfredo Misterio and Department of Labor and Employment (Dole) 7 Director Ma. Gloria Tango.

 

Misterio said yesterday's recognition at the Harolds Business Hotel was the 8th since Mofya was launched in 2005.

 

Mofya is aimed at recognizing the success of OFWs and their families throughout the country.

 

Misterio said there will be two regional winners from each region, one from the land-based and one from the sea-based.

 

The national awarding will be held in Manila in December.

 

"It is my pride to announce that Region 7 bagged the coveted Mofya 2011 national awards in the sea-based and land-based sectors, the first time in history since the search was launched in 2005," Misterio said.

 

She identified last year's Mofya winners as Dr. Carlito Astillero from Labangon, Cebu City, and chief engineer Candido Caminero from Argao, Cebu.

Astillero and Caminero received ₱P600,000.00 cash each.

 

Misterio said that by recognizing the best practices of families of OFWs, other OFW families will be inspired.

 

"May the success stories of our model OFW families continue to inspire not only the families of OFWs but all Filipino families as well," Misterio said.

 

Genara Beltran Licardo Rolloque, wife of nominee Venancio Rolloque, told Sun.Star Cebu the nominees are evaluated according to their ability to keep Filipino family values intact and educate their children.

 

The wife of nominee Tabigue, Ester Tabigue, is the incumbent mayor of Mabini, Bohol.

 

Sun Star Cebu

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