Business World Online
BILIRAN GEOTHERMAL, Inc. (BGI), is scheduled to drill an exploratory well in the third quarter to assess the availability of resource within its geothermal field on Biliran island, an official of the Energy department told reporters yesterday.
“The company is already preparing to drill. The drilling program is set in the third quarter of this year,” Mario C. Marasigan, the department’s director for Renewable Energy Management Bureau, said in a text message when asked on updates on the geothermal project.
“They will drill the first exploratory well to confirm the availability of the resource,” he explained.
“If they confirm the resource based on the prognosis, then they will start to develop the geothermal field.”
Mr. Marasigan said that drilling of an exploratory well usually takes “around 30 days.” and assessment will take about three months.
“So after, maybe at least six months, they can decide if they will pursue the development of the project. That’s when we expect the decision,” Mr. Marasigan said.
Data from the Energy department showed that the Biliran geothermal concession — which was awarded to BGI in July 2008 — covers an area of 260 square kilometers in barangays Cabibihan and Villa Vicenta in the municipality of Caibiran.
It was estimated to have a potential geothermal resource that can support a 50-megawatt power plant.
BGI is a joint venture between Filtech Energy Drilling Corp. (FEDCO) and Iceland-based Orka Energy Holding ehf.
According to FEDCO’s Web site, the joint venture has already completed the several geological surveys within the geothermal field.
FEDCO, which was incorporated in 2005, engages in consultancy on the needs of geothermal industry.
The company explores, drills, develops, exploits and manages geothermal resources for its clients.
Meanwhile, Orka Energy is a geothermal development company that specializes in harnessing geothermal resources for electricity generation and district heating.
Besides the Philippines, the company also has operations in Singapore and China. — C. A. M. C. Feliciano