The consortium of Basic Energy Corp. and Trans-Asia Oil and Energy Development Corp. has started drilling an exploratory well for a geothermal project in San Teodoro, Mabini, Batangas.Basic Energy said in a disclosure to the stock exchange the move followed the Energy Department’s approval of the consortium’s notice of intent to drill in geothermal service contract no. 8 in 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 Co.
“The drilling of the exploratory well is aimed at determining the extent of the resource. Tests will be done immediately after drilling to ascertain temperature and flow rate, as well as other results necessary to plan for future work programs on production holes,” Basic Energy senior vice president Anthony Cuaycong said.
Basic Energy will drill an exploratory hole with a minimum depth of 1,500 meters to determine the temperature and other qualities of the steam resource.
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