BHP calls force majeure on Philippines exploration
PERTH (miningweekly.com) – Diversified giant BHP Billiton has declared a force majeure on its Palawan permit, known as SC55, off the shore of the Philippines.
BHP, which holds a 60% stake in the permit, told joint venture partner Otto Energy that the declaration came amid a delay in the receipt of the strategic environmental plan clearance for SC55 from the Palawan Provincial Council for Sustainable Development.
Otto Energy said that the clearance was initially expected in September of last year, but the provincial board had requested BHP to submit a socioeconomic development programme to the province, prior to recommending an endorsement of the environmental clearance.
The socioeconomic development programme was not required under Philippine law, nor had it been required for exploration approvals in the past, Otto said.
BHP had issued the force majeure notice until the strategic environmental clearance had been received, in an effort to preserve all its permit rights.
“The effect of issuing the notice of force majeure is to suspend the obligations under the current fourth sub-phase of SC55, including the drilling of the Cinco-1 well, and to preserve the remaining time under the exploration period of SC55 until the environmental clearance is received,” Otto said in a statement on Friday.
Following the receipt of the environmental clearance, BHP was expected to finalise securing an appropriate deep-water drilling rig in order to undertake drilling of the Cinco-1 well.
The SC55 is estimated to host some 2.2-trillion cubic feet of gas.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.
VISIT SHOWROOM
Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
