By OGJ editors
HOUSTON, Oct. 19 -- Otto Energy Ltd., Perth, were starting a 450 line-km 2D seismic survey on Service Contract 55 west of Palawan Island, the first ultradeepwater block awarded by the Philippine Department of Energy.
The survey on the 9,000 sq km block will blanket the giant Marantao prospect, a carbonate buildup interpreted to cover at least 5 times the area of the Malampaya reef structure. Marantao is in 1,900 m of water, covers more than 150 sq km at closure level, and has at least 500 m of vertical relief.
Otto Energy's NorAsian Energy Ltd. subsidiary and Trans-Asia Oil & Energy Development Corp. plan to start acquiring the seismic data in mid-October and will invite oil majors to join in the deepwater search, said Dr. Jaap Poll, managing director.