Nido Petroleum Limited is an ASX-listed, South East Asian focused oil and gas exploration and production company.

Company Profile

Overview 

Nido Petroleum Limited (“Nido” or “the Company”) is an oil and gas exploration and production company with operations in the Philippines and Indonesia. The Company has an impressive inventory of assets comprising a mix of producing assets, development opportunities and attractive exploration prospects. Nido is headquartered in Perth, Western Australia and has a fully staffed office in Manila, Philippines. Following an off-market takeover completed in September 2014, the Company is majority owned by BCP Energy International Pte Ltd, a wholly owned subsidiary of the Bangchak Petroleum Public Company Limited ('Bangchak') of Thailand. For further information about Bangchak please visit www.bangchak.co.th.

Background

Nido holds a dominant position in the North West Palawan Basin in the Philippines with interests in Service Contracts that have a gross acreage position of 2,944,000 hectares. The Basin is highly prospective for oil and gas exploration and has a history of commercial discoveries. Water depths in the basin range from less than 100 metres to in excess of 2,000 metres. The large contiguous acreage position provides basin-wide exposure to multiple play types and contains material world-class prospects.

Producing assets include the Galoc Oil Field (55.88% interest), Nido A and B Fields (22.49% interest) and Matinloc Field (22.28% interest). Nido also holds a 22.28% interest in the West Linapacan A and B Oil Fields which are currently under review by the West Linapacan Joint Venture.  

The Company has three Production Sharing Contracts (PSC) in the Penyu and West Natuna basins in Indonesia. Nido has a 10% interest in the Cakalang and Gurita PSCs and a 15% interest in the Baronang PSC.