The operator of the Galoc oil field may drill two new wells after it reviews seismic data cover under its contract 14 off northwest Palawan.

Energy Undersecretary Ramon Oca said Galoc Production Company and other consortium members of SC 14 "might drill two new wells... either for additional production or to keep production at current levels."

Oca said the consortium is presently assessing seismic data to determine the best prospect if decides to drill addtional wells. "They are reviewing it (data). Their decision to drill depends on the results of the data," he said.

Australian firm Nido Petroleum Ltd. earlier disclosed that its joint venture partners in the Galoc oil field are entertaining the possibility of entering the second phase of its oil drilling activities under SC 14.

"The Galoc Joint Venture continues to assess further facility and subsurface development options for Phase 2 of the Galoc oil field development,” Nido said.

Nido said it is presently updating its reserves assessment of the Galoc oil field to incorporate performance data through to the end of September 2009.