The partnership between the Basic Energy Corp. and Phinma Energy Corp is looking to complete its drilling works on the Mabini geothermal project in Batangas by the first quarter of 2017.
In a disclosure, Basic Energy said it has completed drilling at 660 meters depth as of December 15, 2016, where a casing 3-1/2” inch string was installed.
This allows the Mabini consortium to move to the last hole section, Basic Energy senior vice president and general manager Anthony Cuaycong said.
“Based on the current timeline, the target depth of 1500 meters in accordance with the work commitment to the DoE will be reached within the first quarter of next year,” Cuaycong said.
The company said that the consortium will pursue core drilling operations until the target depth of 1,500 meters is reached.
Earlier this year, the Department of Energy issued the go signal to push the drilling operations at the Mabini geothermal service contract.
An exploratory well was drilled last June that will determine the steam resource available in the service contract.
The Mabini Geothermal Service Contract No. 8 is located in San Teodoro, Mabini, Batangas covers 3, 841 hectares.
The area is projected to produce a power capacity between 20 MW and 60 MW.
Basic Energy has a 75 percent stake in the project and is the operator of the service contract. While Trans-Asia has an equity participation of 25 percent.