PPIG’s subsidiary CIMP completed in mid-June the site construction of its first exploration well under the SC49 hydrocarbon project in Cebu, the Philippines.  Drilling equipment will soon reach the well site for assembly.

Besides having leveled ground and done the basic construction, the contractor also widened and reinforced the roads, bridges and curves leading to the well site from the port, so as to ensure a proper delivery of the rig and other equipment. The logistics company will soon begin a road test thereafter.

In the meanwhile, main shipments including the rig and mud chemicals have arrived at Cebu International Port, of which the majority have been cleared by the customs. 

PPIG Vice President Vladimir Gerchikov said the local transportation of equipment will begin next week, and the drilling team will commence assembly, testing and adjustment once the equipment arrives at the site and nearby storage.

The site construction of the second exploration well is nearing its completion as well. Despite of some delay caused by heavy rainfall in previous days, the well site is expected to get ready soon as the working team is now stepping up its efforts.

Dated: 1 July 2014