Oil production ceased after 40 years earlier this year from Nido and Matinloc fields off Northwest Palawan in the Philippines, the country’s Department of Energy reports.
Discovered in 1977, Nido field started flow in February 1979 and produced 18.9 million bbl of oil over its life.
Matinloc field was discovered in 1979, joined by the Pandan and Libro discoveries in 1980 and the North Matinloc discovery in 1988.
The Matinloc complex had lifetime production of 12.5 million bbl of oil.
A consortium of Philodrill Corp., Alcorn Petroleum, Oriental Petroleum, Nido Production, Phinma Energy, and Forum Energy holds the Nido and Matinloc service contracts.
The country’s only other major hydrocarbon production comes from Malampaya gas field in 820 m of water off Palawan Island. Malampaya produced 150.8 bscf of gas last year, the largest annual total since start-up of commercial production in June 2002.
Cesar G. Romero, president and chief executive officer of Shell Philippines Exploration BV, the operator, estimated last December that Malampaya will produce until 2026-29.
