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Service Contract No. 14   Retention Blocks

Tara, Libro & North Matinloc  (NW Palawan)

 

 

 In late 2009, potential farminee VenturOil Philippines, Inc. lost its exclusive farm-in right over these areas as a result of the long-drawn-out period to complete their technical due diligence.  When they indicated to seek a further extension, the stakeholders in the different blocks suggested that VenturOil must first secure accreditation with the DOE as a qualified service contractor before it can negotiate with the partners.  Since then, we have not received any indication from VenturOil of their interest to pursue a farm-in into these areas.

 

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