PETROLEUM POTENTIAL OF RAGAY GULF, SOUTHEAST LUZON, PHILIPPINES

Abstract

During March-May 1992, the Australian Geological Survey Organisation and the Philippine Department of Energy conducted a cooperative marine seismic and underway geochemical survey in four offshore Philippine basins which included Ragay Gulf. The project was funded and supported by the Australian International Development Assistance Bureau.The newly acquired and reprocessed seismic data from Ragay Gulf show a significant improvement in penetration and stratigraphic resolution. Seismic interpretation has revealed the existence of five sedimentary sub-basins with 2.5 – 6 seconds of Eocene to Recent sediments. Several potential traps have been evaluated for hydrocarbon reserves and new prospects are identified.No well has been drilled offshore in the Ragay Gulf. Onshore well log information and stratigraphy have assisted in the correlation and interpretation of offshore seismic data and allowed potential reservoirs to be recognised. The primary reservoir targets are the carbonate sequences of both Early and Late Miocene age. The widespread volcanoclastic sand may be an important secondary target, especially for gas reservoirs.Onshore and offshore geochemical data have confirmed the presence of mature source rocks from which generated hydrocarbons are currently migrating to the surface and, by inference, to reservoirs.A wide diversity of play types is recognised which could have been sourced from three separate source kitchens in the Bondoc, Ragay and Burlas Sub-basins. Specific entrapment possibilities are:Compressional fault-dependent traps (e.g. Anima Sola).Compressional anticlinal fault independent traps (e.g. Alibijaban and Palad).Late Miocene carbonate reefal buildups (e.g. Apud and Gorda).Early Miocene carbonate reservoirs in drape over highs (e.g. San Narciso and Bagulaya).