Shell has pulled out of Service Contract 54B (SC 54B) in the Palawan Basin offshore the Philippines. Australia’s Nido Petroleum said Shell has with-drawn its 45% stake in SC 54B, effective from 30 December. “We remain optimistic on the prospectivity of the block especially by the potential exploration upside identified in the large Pawikan lead to the south of the Gindara-1 location and only 10km from the producing Nido A and B fields (in SC 14A),” said Nido’s chief executive Jocot de Dios.
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