Kirkland gets license in hot Philippines area
This paper reports that Kirkland As, Oslo, has received a geophysical survey and exploration contract (GSEC) in a sizzling exploration and development theater off the Philippines. The license covers about 6,000 sq miles of undisputed waters, with depths mostly less than 300 ft, and lies in the Reed Bank area off Northwest Palawan Island, where several major oil and gas strikes have been made recently. Kirkland has 1 year in which to carry out its seismic work commitment. The terms of the GSEC then give an option to drill one well in a 6 month period. Once the results have been analyzed, the company can either drill another well or enter into a service contract for the license. Kirkland has a 65% share in the license, with the remainder split between Philippine companies Philodrill Corp., Beguet Mining Corp. subsidiary Petrofields, and Seafront Resources Corp. The Philippines is one of Kirkland's main areas of activity, the Kirkland Commercial Manager Ralph Baxter.
- OSTI ID:
- 7283418
- Journal Information:
- Oil and Gas Journal; (United States), Vol. 90:31; ISSN 0030-1388
- Country of Publication:
- United States
- Language:
- English
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29 ENERGY PLANNING
POLICY AND ECONOMY
OIL FIELDS
RESOURCE DEVELOPMENT
PHILIPPINES
WELL DRILLING
CONTRACTS
PLANNING
DATA PROCESSING
EXPLORATION
LICENSING
SEISMIC SURVEYS
SITE CHARACTERIZATION
ASIA
DEVELOPING COUNTRIES
DRILLING
GEOLOGIC DEPOSITS
GEOPHYSICAL SURVEYS
ISLANDS
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020700* - Petroleum- Economics
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020200 - Petroleum- Reserves
Geology
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