Otto Energy Limited has been notified by BHP Billiton Petroleum (Philippines) Corporation, the Operator of Service Contract 55 (SC55) offshore the Philippines, that it has received formal Strategic Environmental Plan Clearance from the Palawan Council for Sustainable Development in order to drill the Cinco-1 prospect in SC55.
Documentation approving the SEP Clearance has been executed by the PCSD and BHPB.
BHPB has engaged with the Philippine Department of Energy regarding the revised timing of the work programme commitments and it is expected that this will be the subject of a separate announcement shortly.
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Press Release, October 30, 2013