Australia-based Sasgasco (SGC) has finalised the acquisition of BCP Energy Limited and its wholly owned subsidiary Nido Petroleum Limited, which includes all rights and obligations under four production sharing contracts (PSC) in the Philippines as well as the local team. The discovered oil resources under PSC includes SC 14C2, SC 54A, SC 58, SC 6B, and a grouping of SC-14A, 14B, and 14D in the Palawan Basin.

There are no immediate commitments, and the related administrative costs is relatively minimal. SGC is assessing the discovered oil resources under the PSC with the goal of achieving early oil production. Plans for three currently shut-in wells in West Linapacan field, as well as a prospective parallel exploration programme, is among the prospective development plans for the company.