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Petroleum Service Contracts

Participating Interests:as of December 31, 2021

Service Contract 6-A (Octon Area)- surrendered

  • The approval of the Notice of Surrender of the Service Contract, submitted on the 31st of March 2021 is still pending with the Department of Energy (DOE).  Once approved, Philodrill will apply for a new Service Contract over the same area under the Philippine Conventional Energy Contracting Program (PCECP).

Service Contract 6B (Bonita-Cadlao Area), Operated Block

  • 58.182% - The Philodrill Corporation **
  • 16.364% - Oriental Petroleum and Minerals Corporation
  • 09.090% - Nido Petroleum Phils. Pty., Ltd.
  • 08.182% - Forum Energy Philippines Corporation
  • 08.182% - Alcorn Petroleum and Mineral Corporation
  • ** The Participating Interest (PI) is the result of Manta Oil Corporation’s (former Operator) withdrawal as contractor and operator of the Block in December 2021. The relinquished participating interest reverted, pro-rata, to the remaining participants in the Service Contract and the operatorship to Philodrill.
  • A Farm-in Agreement is being negotiated with Nido Petroleum, this will eventually increase Nido’s PI and transfer operatorship of the SC to Nido. A Deed of Assignment will be submitted to the DOE for approval of the transfer and increase in PI of Nido.   

Service Contract 14-C1 (Galoc Area)

  • 10.17782% - The Philodrill Corporation **
  • 78.82683% - Nido Petroleum Galoc Pty. Ltd
  • 7.78505% - Oriental Petroleum and Minerals Corp.
  • 3.21030% - Forum Energy Phils. Corporation

    ** As per DOE records, PI remains at 7.21495%. The additional 2.96287%, representing the pro-rata PI received from Kufpec after its withdrawal from the consortium on the 14th of September 2020, is still subject to DOE approval on the transfer of interest back to the remaining partners.

Service Contract 14-C2 (West Linapacan Area), Operated Block

  • 28.070% - The Philodrill Corporation
  • 30.288% - Oriental Petroleum and Minerals Corp.
  • 22.279% - Nido Petroleum Galoc Pty., Ltd.
  • 9.103% - Forum Energy Phils. Corporation
  • 6.123% - Alcorn Petroleum and Mineral Corporation
  • 4.137% - PetroEnergy Resources Corporation

Service Contract 53 (Onshore Mindoro), Operated Block

  • 81.48% - The Philodrill Corporation
  • 18.52% - Anglo Philippine Holdings Corporation

Service Contract 74 (Linapacan Area)

  • 25.000% - The Philodrill Corporation
  • 70.000% - PXP Energy Corporation
  • 5.000% - PNOC-Exploration Corporation

SWAN Block (NW Palawan)

  • Philodrill has dropped the area from its portfolio

Area 7 (Sulu Sea)

  • The application for Service Contract for Area 7, with PXP Energy Corporation as co-applicant, is still under consideration pursuant to the Philippine Conventional Energy Contracting Program. Approval on the application remains pending and is awaiting the DOE’s final resolution.