ExxonMobil's Philippines unit said it struck hydrocarbons while drilling a well in the Dabakan offshore field. The prospect will be further drilled to a depth of more than 16,000 feet, "setting the record for the deepest well drilled in the Philippines," company official Ian Fisher said. Exxon holds a 50% stake in the project, while Mitra Energy and BHP Billiton Petroleum control the rest.

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