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PIA Press Release

Energy Dev't Corp tests newest, most modern rig in Leyte

Tacloban City (March 6) -- The Energy Development Corporation (EDC), a geothermal energy leader, inaugurated on February 25, its state-of-the-art rig, touted as the most modern in the country.

"With this new state-of-the-art rig, we will achieve significant operational efficiency by reducing our drilling days by 40 to 50%," EDC President and COO Richard Tantoco said.

The rig's superior safety and mobility features will also enable EDC to accomplish its drilling targets in terms of programmed wells per year, which is crucial since the corporation is in an expansionary mode, the EDC President added.

The new rig, Mr. Dave Devilles, the corporate communications officer said, has two unique features - the Variable Frequency Drive (VFD) and Amphion Integrated Rig Control System. The former allows for a more accurate speed and torque control while the latter centralizes control of various rig equipment.

In addition, its mud system has a 1,800 barrels capacity which can increase rate of penetration. The new rig also has superior safety and mobility features.

"We continue to invest in drilling equipment and manpower because they form the backbone of our geothermal business, President Tantoco explained. The new rig is a valuable addition to EDC assets and will enable the company to meet its drilling targets especially in Leyte which is a vital energy project.

The Leyte Geothermal Production Field (LGPF) is EDC's biggest project. With an installed capacity of 701 megawatts, it is the virtual linchpin to the national electric highway supplying power to Luzon and to Central and Western Visayas.

EDC owns and operates not only the geothermal fields but also the power plants that include Tongonan 1, Upper Mahiao, Malitbog, and Mahanagdong. (PIA 8) [top]

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