PXP president Daniel Stephen Carlos said during the company’s annual stockholders’ meeting the company has two pending service contract applications with the Department of Energy. Read more👇
PXP president Daniel Stephen Carlos said during the company’s annual stockholders’ meeting the company has two pending service contract applications with the Department of Energy.
“We aim to enhance the company’s value through the acquisition of new prospective areas, and we’ll likewise remain open to evaluate the other opportunities in the region,” Carlos said. The first pending block is a nominated area adjacent to SC 72 . “Once awarded, the company plans to acquire 2D seismic data along with marine gravity and magnetic data,” Carlos said.
He said the second block is Area 7 in the Sandakan basin in Sulu Sea. PXP will reprocess the 3D seismic data upon the award of the contract for Area 7.
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