Nido lets contract for Philippines seismic work

Oct. 16, 2006
Nido Petroleum Ltd., Perth, operator of the SC54 joint venture off the Philippines, has signed a contract with Veritas Geophysical Ltd. to acquire and process a 3D seismic survey off Palawan Island.

Rick Wilkinson
OGJ Correspondent

MELBOURNE, Oct. 16 -– Nido Petroleum Ltd., Perth, operator of the SC54 joint venture off the Philippines, has signed a contract with Veritas Geophysical Ltd. to acquire and process a 3D seismic survey off Palawan Island.

The month-long program, due to begin at the end of October, will be carried out over 824 sq km in the northern sector of the contract area.

Nido says the survey will enhance prospects such as the Coron North feature, which is an undrilled four-way dip structure with reef buildup potential similar to Malampaya field's.

Nido also will look at leads in the deepwater Pagasa turbidite fairway and clarify the Coron structure that was drilled in 1993 by New Zealand's Fletcher Challenge Ltd. and has an untested 120 m thick oil column.

Veritas will use its Viking II vessel for the survey.