Reed Bank Gas reserves is now estimated 20trillion cubic ft...

[balipseyev]

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Forum Energy Plc, a London-based oil and gas company, is looking at new oil and gas prospects not far from the disputed Spratly group of islands in the South China Sea.

The company said in a statement data from previous 2D and 3D seismic studies on service contract 72, where the Sampaguita gas field is located, were being interpreted by an international consultancy company. A final report is expected by middle of the year.
The SC 72 license covers an 8,800 square kilometers in offshore west Palawan in the South China Sea. It is estimated to contain 3.4 trillion cubic feet of gas but Forum Energy said eight additional leads which require further work has the potential to add a further 20 trillion cubic feet of gas.


Energy Undersecretary Jay Layug earlier said Forum Energy did not have a “firm commitment” to drill an exploratory well this year.


Those that committed to drill this year are Blade Petroleum (Cadlao block, service contract 6 in Northern Palawan), Galoc Production Co., (SC 14 in NW Palawan), PNOC Exploration Corp. (SC 37 in Cagayan and SC 63 in SW Palawan), Gas2Grid (SC 44 in Visayas Basin), CIMP (SC 49 in Visayas Basin), Frigstad Energy (SC 50 in NW Palawan), Pitkin Petroleum (SC 53 in Mindoro-Cuyo) and BHP Billiton (SC 54 and 59 in SW Palawan).

The government must demand a bigger stakes from this explorations... And keep China out of this areas...

[æRLO]

This might escalate things a bit. Hope not.

[lhorenzoo]

The government must demand a bigger stakes from this explorations... And keep China out of this areas...

boss,

grabeha gud kadaghan sa estimated reserves ani...naa ba ni dapit sa ato area of responsibility??sus,magpanikad jud ang china ani...

[digitalsuperman]

if this is indeed true. then wow. china will be up in arms to get it.hehe.

[mAlD|tO]

reservists prepare!

[chris_bern]

time to use the SOKOLs and other newly purchased military items of the philippines..

[Dax101106]

Dakong samok ug gubot gyud ni sa China ug sa Pinas...

[higanstolsdawen]

samut china magpanilap ane.

[butlerana]

reservists prepare!

[balipseyev]

boss,

grabeha gud kadaghan sa estimated reserves ani...naa ba ni dapit sa ato area of responsibility??sus,magpanikad jud ang china ani...

Reed Bank is within our 200NM EEZ and its not part of the Spratly Island group, pero gi angkon gihapon ni sa China kay ilaha man daw tibuok South China Sea....