Manila: Thailand’s RMA West Linapacan is gearing up to redevelop the West Linapacan oil field after signing a contract with Transocean of Switzerland to drill an oil well off northwest Palawan.
RMA said contracts for floating, storage and offloading vessels are ready for signing.
RMA is the operator of Service Contract 14 C 2 in West Linapacan lying in offshore northwest Palawan with a 29% stake. Other consortium members are Pitkin Petroleum Plc with a 29% interest and Nido Petroleum Ltd, which controls 22%. The balance is held by smaller oil exploration companies.
Nido Petroleum managing director Philip Byrne earlier said the SC 14 C 2 consortium might drill two or three wells to redevelop the West Linapacan A field. [12/01/15]