OK for BHP's Philippines well

摘要

A BHP Billiton-led joint venture has secured environmental approval for an $80 million, ultra-deepwater exploration well in the Cinco prospect in the Philippines, partner Australia-listed Otto Energy said August 29. The prospect is analogous to the Malampaya gas and condensate field, which has been producing for Anglo-Dutch Shell, US major Chevron and the Philippines National Oil Company for more than 10 years. Formal written endorsement is now being finalized between the PCSD, permit operator BHP Billiton and the Philippines Department of Energy.