SINGAPORE, June 11, (Reuters) – Seeking to strengthen its foothold in the Philippines, Kairiki Energy, an Australian oil firm that is debuting in the country with the production from the new Tindalo oil field offshore of Palawan, plans to expand its fledgling output, with the development of the nearby Gindara field before the end of the year.

Kairiki expects to announce partners for development of the Gindara field before end-2010.

The company foresees reserves of more than 200 million barrels of oil will be recoverable from Gindara, out of a mean estimate of 634 million barrels of oil in place.

That is more than triple the total of 201 million in place for the rest of Kairiki's prospects.

Gindara majority-owner Nido and Kairiki plan to woo larger partners by offering them a stake in the oilfield in exchange for financing the first well.

The drilling cost will amount to between $20 million and $30 million.