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

Service Contract 54 Block A

Philippines-full SC54A
Project: Moratorium
Location: NW Palawan Basin, offshore Philippines.
Working interest 42.40%
Operator Nido
Area 88,000 hectares
Brief description: SC 54A is located over the shallow water sector of SC 54 where water depths are generally less than 120 metres. The exploration strategy is focused on exploiting the proven oil potential of the Nido Limestone pinnacle reef play by using low cost development concepts. The entire block is covered by 3D seismic data and contains a number of undeveloped oil discoveries and a large Prospect and Lead inventory of low risk drilling opportunities.
Recent activity:
Block A of Service Contract 54 contains the un-developed Yakal and Tindalo Oil Fields. Nido as Operator of the SC 54A Joint Venture unsuccessfully sought to develop the Tindalo Oil Field in 2010. The project was abandoned in early 2011 as it was not commercial. 
The Department of Energy (DOE) has granted the SC 54A Joint Venture a moratorium over areas in Block A of Service Contract 54 (for the period between 5 August 2014 to 5 August 2017). The  moratorium will allow Nido to retain those areas that are currently sub-commercial but could potentially become commercial during this period.