PXP Energy stands by to resume drilling of Recto Bank oil block

Ang, Adam J.

Date

July 16, 2020

Author

Ang, Adam J.

Metadata

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Classification code

BW20200716_S1/3

Excerpt

PXP Energy Corp. has set its eyes on exploring an oil block within the disputed West Philippine Sea that is estimated to bear as much as 3 trillion cubic feet of gas resources. Led by businessman Manuel V. Pangilinan, the listed gas and oil firm operates the area through Forum (GSEC 101) Ltd., a unit of Forum Energy Ltd., which in turn is one of its subsidiaries. The block is located within the Department of Energy’s (DoE) Service Contract (SC) 37 in Recto Bank. Exploration activities in the area are currently suspended upon declaration of a force majeure.

Citation

Ang, A. J. (2020, July 16). PXP Energy stands by to resume drilling of Recto Bank oil block. BusinessWorld, p. S1/3.