Drilling of geothermal wells in Tiwi-Makban to start in 2010
07/12/2009 | 09:54 PM
MANILA, Philippines- Aboitiz Power Renewables Inc. (APRI) and Chevron Geothermal Philippines Holdings Inc. (CGPHI) expect to conclude talks by yearend to drill new geothermal wells within the next three years in Tiwi field in Albay province and Malkiling-Banahaw (Makban) field in Laguna and Batangas provinces.
CGPHI president and general manager Antonio Yee said an exploration of one well would cost between $5 million and $6 million that could generate seven to eight megawatts (MW).
APRI and CGPHI are looking at drilling 10 to 15 more geothermal wells starting the second quarter of 2010.
"We are still in the process of evaluating and discussing the cost recovery sharing with APRI," he said.
CGPHI will likely shoulder 45 percent of the drilling cost while APRI, which took over the Tiwi-Makban power plants from National Power Corp. (Napocor) will infuse 55 percent of the needed capital.
APRI recently took over the operation of Tiwi-Makban power plants from the Napocor. These power facilities utilize geothermal produce from CGPHI's steamfields.
Having 1,273 MW capacity, the wholly-owned subsidiary of US firm Chevron Corp. is the world's largest geothermal producer. -GMANews.TV
CGPHI president and general manager Antonio Yee said an exploration of one well would cost between $5 million and $6 million that could generate seven to eight megawatts (MW).
APRI and CGPHI are looking at drilling 10 to 15 more geothermal wells starting the second quarter of 2010.
"We are still in the process of evaluating and discussing the cost recovery sharing with APRI," he said.
CGPHI will likely shoulder 45 percent of the drilling cost while APRI, which took over the Tiwi-Makban power plants from National Power Corp. (Napocor) will infuse 55 percent of the needed capital.
APRI recently took over the operation of Tiwi-Makban power plants from the Napocor. These power facilities utilize geothermal produce from CGPHI's steamfields.
Having 1,273 MW capacity, the wholly-owned subsidiary of US firm Chevron Corp. is the world's largest geothermal producer. -GMANews.TV
