News

Two new wells reach commercial production at Maibarara

Maibarara geothermal field at Mount Makiling, Philippines
Alexander Richter 6 May 2011

Maibarara Geothermal Inc. a JV between PetroEnergy Resources, Trans-Asia Oil, EDC and PNOC Renewables, reports that two geothermal wells in its Maibarara project in Calamba, Laguna and Sto. Tomas, Batangas, reached commercial production early this week.

Reported from the Philippines, “Maibarara Geothermal Inc. said two geothermal wells in its Maibarara project in Calamba, Laguna and Sto. Tomas, Batangas, reached commercial production early this week.

The geothermal field is the latest commercial find in the Philippines since February 2007, when Energy Development Corp. developed the Northern Negros reserves in the northwestern part of Mt. Kanlaon in Mailum, Bago City, Negros Occidental.

“The two production wells, which were part of the three-well work-over rehabilitation conducted by MGI early this year, were put under a flow-test program last April 14… In the first week of May, the two wells have attained commercial wellhead pressures, stable chemistry suitable for steam supply to a power plant, and an aggregate capacity of about 15 megawatts,” Maibarara said in a statement.

Maibarara is joint venture among PetroEnergy Resources Corp.’s wholly-owned subsidiary PetroGreen Energy Corp. (65 percent), Trans-Asia Oil and Energy Development Corp. (25 percent) and PNOC Renewables Corp. (10 percent).

The joint venture aims to commercially develop the Maibarara geothermal steam field at the western flank of Mount Makiling. The total project cost for developing a 40-MW steam field may reach P2.8 billion.

“If these studies turn out positive, MGI will file for a declaration of commerciality for Maibarara with the Energy Department and secure financing for [up] to P2 billion sometime in the third quarter of 2011 to start field development,” Maibarara said.

It said the third well was being used for re-injection of discharged brine, adding the company would continue with the well program until the end of the month to determine the field’s sustainability.

“Drilling of two new wells, one for production and one for condensate injection, will be undertaken as originally programmed and budgeted. It will also engage an international third-party firm to independently review its reserves estimation for the field,” Maibarara said.”

Source: Manila Standard Today