A new well is set to be drilled at the Galoc Oil Field in offshore Palawan following a recent drilling showing no clear signs of oil and gas in commercial quantities, the Nido Petroleum Limited said.
NIDO said that the drill Deepsea Metro I has finished its drilling works through the Galoc Clastic Unit reservoir of the Galoc Mid Area.
The preliminary data says that the reservoir unit contains hydrocarbons and water, however, results were still inconclusive, the company said.
“At this stage the Galoc-7 well results are inconclusive in terms of the potential commerciality of the Galoc Mid Area of Block C1 of Service Contract (SC) 14,” Nido said.
Meanwhile, the Deepsea Metro I is now in the process of plugging and abandoning the Galoc – 7 well and is preparing to drill out the Galoc – 7ST – 1 well in the Galoc Central Field Area.
Nido said that it will continue to evaluate the results of the Galoc – 7 well and will incorporate this information into the relevant sub-surface model with the Galoc – 7ST – 1 results once it’s drilled.
The Galoc Oil Field consists of the producing Central Field Area and the undrilled northern extension Galoc Mid Area, where the drilling of the Galoc-7 appraisal well is considered to discover contingent reserves.