Philippines awards E&P contract in Sulu Sea

摘要

Singapore-The Philippines Department of Energy has awarded a contract for oil and gas exploration in the Sulu Sea to a consortium of Australia's BMP Billiton,the US' Amerada Hess and Unocal,and local firm Sandakan Oil,the DOE said Aug 11.The contract area covers 8,620 hectares in the Sulu Sea,which is considered to be one of the country's most promising areas for exploration,based on previous drilling there,the DOE said.The contract area holds an estimated resource potential of 203-mil boe.