PNOC Exploration Corp. said it is seeking joint venture partners for its exploration program in Service Contract (SC) 57, also known as the Calamian block, located offshore northwest Palawan.
PNOC EC holds a 100-percent interest in SC 57, a 7,120-square-kilometer area about 10 km northeast of the Malampaya Field.
The block is within the prolific northwest Palawan basin and hosts the Bantac 1 well, a non-commercial oil discovery made by Occidental Petroleum.
The company is open to a joint venture partner taking a participating interest of 51 percent to a maximum of 70 percent in SC 57.
“Pursuant to Executive Order No. 80 s. 2019 and its implementing rules and regulations under DOE Department Circular No. DC2020-02-0006, PNOC EC now calls for the submission of letter of intent from interested parties to participate in the selection of a joint venture operator for a minimum of 51 percent to a maximum of 70 percent participating interest in Service Contract 57,” it said.
Third-party participants should submit their letters of intent by Aug. 5, 2025, and obtain the farm-out documents.
“Only third-party participants that submitted LOls and signed confidentiality agreements shall be allowed to conduct due diligence on SC 57,” PNOC EC said.
The deadline for proposal submissions is Sept. 19, 2025, at noon.
PNOC EC previously sought joint venture partners for SC 57 in 2022, but the effort did not materialize.
