PXP said in a disclosure to the stock exchange it received a directive from the Department of Energy on April 6 to “put on hold all exploration activities for SC 75 and SC 72 until such time that the Security, Justice and Peace Coordinating Cluster has issued the necessary clearance to proceed.”
PXP said this was the first time that it learned about the requirement for a clearance from the SJPCC before undertaking the work obligations that the DOE required them to do in SC 75 and SC 72, respectively. Both operators said they were closely coordinating with the DOE on the planned exploration activities and expressed willingness to resume their exploration plan immediately, but said they have not received written confirmation from the DOE by April 10.
PXP holds 50-percent interest in SC 75, while Forum Energy Limited where PXP holds a direct and indirect interest of 79.13 percent, has a 70-percent participating interest in SC 72 in northwest Palawan.
Source: Energy Industry News (energyindustrynews.net)
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