With the approval granted by the Department of Energy on its bid for force majeure declaration at its prospect area, Ayala-led ACE Enexor Inc. will be moving to April next year its targeted well drilling at its petroleum block in southwest Palawan basin.
Relative to the energy department’s nod on the “force majeure status” for the petroleum block, Palawan 55 has been further instructed “to submit to the DOE a digital copy of the geological model of the Cinco prospect and a drilling montage prior to the commencement of the drilling activity.” ACE Enexor executives had previously laid down preparatory works on the targeted well drilling – including project execution plan, rig market survey, tendering for long-lead drilling equipment and supplies, as well as preliminary well budgeting.
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