Nido Petroleum is a wholly owned subsidiary of Bangchak Corporation, a Multinational Energy Company.

SC 14A & 14B - Nido & Mantiloc Oil Fields

SC14C1 SC14A SC14A
Project: Nido & Mantiloc Oil Fields
Location: NW Palawan Basin, offshore Philippines.
Working interest Block A: 22.49%
Block B: 28.28%
Operator The Philodrill Corporation
Area 68,000 hectares
Initial Discovery: Discovered in 1981 at 290 metre water depth
Development Schedule Nido A discovered in July 1977, Nido B discovered in January 1978. Matinloc discovered in January 1978.
Nido A & B brought into production in February 1979, with production peaking in mid to late 1979 at over 13,000 bopd and 29,000 bopd for Nido-A and Nido-B. Fields switched to cyclic production regime in mid-1984.
Matinloc brought into production in July 1983 with a peak production rate of 6,800 bopd. Cyclic production began on Matinloc in January 1997
Brief description: The Nido oil field is located in Block A of Service Contract 14 (SC 14), at the southern end of the NW Palawan Basin, approximately 60 kilometres west of Palawan Island. The Matinloc oil field is located in Block B of Service Contract 14 (SC 14), approximately 50 kilometres northwest of Palawan Island and 54 kilometres north of the Nido oil field in 25 metres of water.
In mid-1979 three additional development wells (Nido-A2, -B2 and -B3) were completed and a production platform was installed at Nido-A and Nido-B standing in waters of 43 metres and 78 metres, respectively.
Matinloc is situated in 25 metres of water and was discovered in January 1979 with the drilling of the wildcat Matinloc-1 well, intersecting a carbonate reef build-up. The field is mapped as a four-way closure with a gross hydrocarbon column of more than 91 metres.
Matinloc-2 and Matinloc-3 were drilled directionally from the Matinloc-1 location in early 1980 and 1982, respectively.
The Nido fields produce crude oil with a gravity of 27° API and 2% sulphur content, and is marketed into refineries in the Philippines together with the Matinloc crude.
Recent activity: The Nido and Matinloc oil fields continue to produce oil on a cyclical basis.