The Department of Energy (DOE) said Monday Ratio Petroleum Ltd. of Israel, the operator of Petroleum Service Contract (SC) No. 76, will conduct a 3D seismic survey in the East Palawan Basin this month.
The DOE said Ratio contracted Shearwater GeoServices to deploy its seismic survey vessel SW Thuridur to acquire 3D seismic data over an area in the SC 76 block about 150 kilometers east of Puerto Princesa, Palawan.
The agency approved the seismic survey as part of Ratio’s work commitments for SC 76.
It said the comprehensive 3D seismic survey would employ state-of-the-art technology and methodologies to acquire a high-resolution imaging of the subsurface geology.
“By capturing detailed and high-quality seismic data within the block, Ratio aims to enhance its understanding of the basin’s geological characteristics, gather high-quality geophysical data, identify optimal drilling locations with greater precision, and assess the potential for new oil and gas discoveries in offshore East Palawan,” the DOE said.
The 3D seismic survey will take around 35 days to complete, covering about 1,500 square kilometers of modern 3D seismic data.
Ratio’s 3D survey also gained the full support of the local government of Palawan and concerned government agencies.
The Philippines has experienced a significant gap in seismic survey activity over the past eight years, according to the DOE.
It said Ratio’s work commitment to conduct the seismic survey aligns with the Marcos administration’s support to bolster the nation’s energy security, unlock the basin’s untapped resources, and stimulate the exploration and development of oil and gas in the country.
It said the survey also represents a significant milestone in the DOE’s petroleum exploration campaign, where the country’s oil and gas potential remains largely unexplored.