Forum Energy seeks partners to develop Sampaguita project
UK–based Forum Energy Plc is seeking potential partnerships to accelerate the exploration and development of the Sampaguita gas discovery within the Reed Bank basin.
Robert Nicholson, executive chair of Forum Energy, said he expected the completion of the company’s first sub-phase work program for Service Contract 72 to give them “significant additional information.”
This data, Nicholson explained, will enable the company to “better assess the various development scenarios and potential partnership options for the SC 72 block at a critical time in the development of this important asset.”
The Sampaguita prospect alone was estimated to contain as much as 3.4 trillion cubic feet of gas. Aside from this large discovery, the SC 72 field was reported to contain at least eight other potential leads.
Given the resources covered by SC 72, Forum Energy had said that it was even enough to form the foundation of a liquefied natural gas (LNG) project, similar to the Malampaya deepwater-to-gas power project.
A number of options can be made available to Forum Energy for marketing the gas produced from Sampaguita gas field, which included establishing a new LNG export facility; building a pipeline to access capacity in Shell Exploration BV’s existing infrastructure at the Malampaya; and selling into the Philippine market.
Last March, Forum Energy reported that it has already completed the necessary seismic surveys over the Sampaguita gas field, allowing the company to identify the best drillable targets within the highly rich prospect.
