MANILA, Philippines - ExxonMobil Exploration and Production Philippines B.V. (EMEPP) has completed drilling its fourth well in an exploration block off Sulu sea, the Department of Energy announced on Friday.
The Babendil-1 well, covered by Service Contract 56, was drilled to a total depth of 4,092 meters/13,425 feet.
Drilling of Babendil-1 began last August 4. The West Aquarius, the same drilling rig used in the first 3 wells, was used to drill Babendil-1.
With the completion of Babendil-1, EMEPP has fulfilled all commitments under SC 56, the DoE said.
Energy Secretary Jose Almendras noted that "the 4 exploration wells have yielded very useful data, which will now be studied further. This will help determine future plans for SC-56."
Aside from EMEPP, other SC-56 contractors are Mitra Energy Limited and BHP Billiton.
SC-56 is part of the government's efforts to encourage investments in the energy sector. During this exploration phase, all risk is borne by the contractors at no cost to the government.