Nido Petroleum is a wholly owned subsidiary of Bangchak Corporation, a Multinational Energy Company.

Service Contract 54 Block B

Philippines-full SC54B
Project: Moratorium
Location: NW Palawan Basin, offshore Philippines.
Working interest 60.00%
Operator Nido
Area 316,000 hectares
Brief description: SC 54B is approximately 53 sq. km in size and has a vertical relief of around 300 metres; thus is larger in size than the nearby Gindara structure. 
Recent activity:
Block B of Service Contract 54 contains the Pawikan prospect. The Joint Venture has no current plans to drill the Pawikan prospect or any other exploration well in Block B and Nido has been granted a 3 year moratorium (for the period between 5 August 2014 to 5 August 2017) over areas within Block B of Service Contract 54. The granting of a moratorium will allow Nido to retain areas of interest in Block B for this period.