THE Mabini consortium said on Friday that drilling works on its first exploratory well located in San Teodoro, Mabini, Batangas have reached a depth of 660 meters, or more than a third of the target depth of 1,500 meters.
The consortium for the Mabini geothermal project is composed of Basic Energy Corporation (BEC) and Phinma Energy (formerly Trans-Asia Oil) along with Energy Development Corporation (EDC).
BEC, the major stakeholder of consortium, told the Philippine Stock Exchange (PSE) on Friday that as of December 15, a casing of 3-1/2 inch string has been successfully installed at a depth of 660 meters.
“The next steps shall consist of rig and equipment maintenance prior to resumption of drilling operations. The consortium shall pursue core drilling operations until the target depth of 1500 meters is reached,” the company said.
“The drilling and coring of an exploratory hole with a minimum depth of 1,500 meters aims to determine the temperature and other qualities of the steam resource. Drilling will take about three months to complete,” it added.
The Department of Energy (DOE) approved the consortium’s Notice of Intent to Drill last April. The approval followed the consortium’s awarding of the drilling contract to Diamond Drilling Corporation of the Philippines, a subsidiary of Lepanto Consolidated Mining Company.
The Mabini Geothermal Service Contract No. 8 covers 3,841 hectares. Based on the pre-feasibility study, the area is projected to yield a power capacity of between 20 and 60 megawatts.
BEC has a 75 percent stake in the project and is the operator of the service contract. Phinma Energy with EDC have an equity participation of 25 percent.