ExxonMobil-led group completes 4th well drilling in South Sulu Sea

MANILA, Philippines –  The Department of Energy (DOE) said the consortium led by ExxonMobil Exploration and Production Philippines B.V. has completed drilling its fourth well under Service Contract 56 in South Sulu Sea.

The Babendil-1 well was drilled to a total depth of 4,092 meters. Its drilling started last Aug. 4, using the West Aquarius, the same drilling rig engaged in the first three wells.

With the completion of Babendil-1, the group has fulfilled all commitments under SC 56 with the DOE. Drilling operations under the service contract was initiated on Oct. 11, 2009.

“The four exploration wells have yielded very useful data, which will now be studied further. This will help determine future plans for SC-56,” Energy Secretary Jose Almendras said.

Aside from ExxonMobil, the other SC 56 contractors are Mitra Energy (Philippines) Ltd. and BHP Billiton (International Exploration Pty Ltd).

ExxonMobil is the lead operator of SC 56, which is part of the Philippine government’s efforts to encourage investments in the energy sector.

During the exploration phase, all risks are shouldered by the contractors, at no cost to the Philippine government.