The consortium, composed of Basic Energy Corp. and Phinma Energy, formerly Trans-Asia Oil and Energy Development Corporation, said the drilling at the Mabini Geothermal Project is still ongoing.
“As of December 5, 2016, a casing (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,” Basic Energy told Philippine Stock Exchange on Friday.
“The consortium shall pursue core drilling operations until the target depth of 1500 meters is reached,” it added.
