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There
are about 222, 914 sq km of total acreage available for the first round. These
are located in: Offshore
West Palawan
covering
NW
Palawan, SW Palawan and Reed Bank basins, all of which have proven oil and gas accumulations,
and
Sulu
Sea
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Portions
of the contract areas offered have recent 3D and 2D
seismic data acquired by PGS and WesternGeco, respectively, which are available
for purchase by the applicants.
Following a block reference
system used by the DOE, the contract areas offered are defined by 46 rectangular blocks
and identified in latitudes and longitudes for
easy selection and identification on the map. The contract areas vary in sizes
from 2000 sq km to 8000 sq km, with an average of 6,000 sq km.
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