After assessing several extensive seismic surveys over its inventory of deepwater prospects and leads in Philippines service contract areas 54,58 and 63, offshore west and northwest Palawan Basin, Nido Petroleum has concluded these permits have a combined oil in place (OIP) potential of 11.6 mmbo. As a result, Nido is seeking partners to explore for oil and gas in these assets whose contiguous acreages cover around 30,000km~2.
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