BHP Philippines farm-in

摘要

BHP Billiton has exercised an option with Otto Energy to farm in to Service Contract 55 (SC 55) in the Palawan Basin offshore the Philippines. Under the deal, BHP will earn up to 60% and assume operatorship of SC 55 by reimbursing Otto's past costs and funding one offshore deepwater well by 2012, with an option to drill a second well by 2013.