Country report
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29 Pages

Philippines upstream summary


Philippines upstream summary

Report summary

Onshore oil and gas exploration began in 1921, with limited success. Over the next four decades several unsuccessful exploration wells were drilled onshore. Offshore exploration began in 1957 and the following year, the first commercial discovery, Libertad-1, was made by ACOJE offshore Visayan. The country's largest find to date is the multi-tcf Malampaya gas/condensate, found in 1992.The Philippines has a number of hydrocarbon basins, but the North Palawan Basin is the only ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 1.14 MB 29 Pages, 13 Tables, 13 Figures
  • Country Overview XLS - 514.50 KB

Description

Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Geology
    • Introduction
    • North Palawan-Mindoro Basin
    • Southeast Luzon Basin
    • Visayan Basin
    • Sulu Sea Basin
    • South Palawan Shelf - Reed Bank
    • Agusan-Davao Basin
  • Exploration
    • Licensing
      • PECR-4
      • Service Contracts (SCs)
      • Early Licensing
      • 1990s
      • 2000-2005
      • 2006-2007
      • 2008-2010
      • 2012
      • PECR-4
      • 2013 awards
      • PECR-5
    • Drilling
      • Drilling activity
      • Exploration and appraisal highlights
      • Recent drilling
      • 1997-2000
      • 2001-2006
      • 2007-2011
      • 2012-2014
      • Success rates
  • Reserves and resources
  • Production
    • Oil/Liquids
    • Gas
  • Infrastructure
    • Gas infrastructure
      • Offshore Gas
      • Onshore Gas
      • The BatMan 1 and 2 Pipelines
    • Liquids Infrastructure
  • Policy and regulation
    • Regulatory body
    • State oil company
    • Licensing
      • Service Contracts (SC)
      • Exclusive Geophysical Survey and Exploration Contracts (GSEC)
      • Non-exclusive Geophysical Permit
  • Fiscal terms
    • Overview
      • Upstream
      • Mid/Downstream
      • Pipelines
      • Gas Utilisation
    • Current fiscal terms
    • Service Contracts
      • Bonuses, rentals and fees
      • Signature bonuses
      • Production bonuses
      • Training Fees
      • Other bonuses and fees
      • Indirect taxes
      • Royalty and other production taxes
      • Contractor Revenue Entitlement
      • Product Pricing
      • Liquids Pricing
      • Natural Gas Pricing
      • SC Cost Recovery
      • SC Profit Sharing
      • Corporate (or Petroleum) Income Tax
      • Additional Profits Taxes
      • Fiscal/Contractual Ring-fences
      • PECR-5
      • Sample Cash Flows
    • Historical background
      • 2000s

In this report there are 26 tables or charts, including:

  • Executive summary
    • Sales Gas
    • Liquids Production
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Geology
    • Map of Principal Sedimentary Basins of Philippines
  • Exploration
    • Blocks Awarded
    • 2008-2012 awards
    • Drilling Activity by Well Type
    • Drilling Activity and Commercial Success Rates
  • Reserves and resources
    • Remaining and Produced Commercial Liquids and Gas Reserves at 01/01/2016 (p+p)
    • Remaining Commercial Liquids and Gas Reserves at 01/01/2016 (p+p)
    • Reserves and resources: Table 1
  • Production
    • Production: Table 1
    • Production: Table 2
    • Liquids Production
    • Production: Table 3
    • Production: Table 4
    • Sales Gas
  • Infrastructure
    • Infrastructure: Table 1
    • Philippines Infrastructure Map
  • Policy and regulation
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • Fiscal terms: Table 3
    • Fiscal terms: Table 4
    • Fiscal terms: Table 5
    • Fiscal terms: Table 6
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