By Madelaine B. Miraflor
The consortium, composed of Basic Energy Corp. and Phinma Energy, formerly Trans-Asia Oil and Energy Development Corporation, said the drilling at the Mabini Geothermal Project is still ongoing.
“As of December 5, 2016, a casing (3-1/2”) inch string has been successfully installed at a depth of 660 meters. The next steps shall consist of rig and equipment maintenance prior to resumption of drilling operations,” Basic Energy told Philippine Stock Exchange on Friday.
“The consortium shall pursue core drilling operations until the target depth of 1500 meters is reached,” it added.
Once done, this will be the second greenfield geothermal project that will be pursued in the Luzon grid, next to the 20-megawatt (MW) Maibarara project in which Trans-Asia is also an interest holder.
It was in June when drilling for the Mabini geothermal power expansion.
The drilling of the exploratory well, Trans-Asia added, shall “test a potential geothermal resource previously identified by geophysical and geological techniques.”
Basic Energy secured the approval of the Department of Energy (DOE) last year on the 25-percent interest in the project, while Phinma Energy had been the taker of the unloaded equity.
Together, the two firms indicated that they will pursue the project’s development – from resource exploration to the setting up of a power facility.
Based on initial blueprint, the power plant could be for 20 to 60 megawatts of capacity – that could then help shore up supply for Luzon grid.