Australia's Nido Petroleum Ltd. (NDO.AU) said it has signed an agreement with Total U.K. Ltd. to jointly evaluate possible bids for energy projects in the Philippines.

In a statement to the Australian Stock Exchange, Nido said the agreement would allow the two companies to jointly evaluate possible bids under the Philippines Energy Contracting Round No. 4., which will auction off various blocks between April and July next year.

The blocks will likely be awarded to the successful bidders in the second half of 2012.

"We are very pleased to be partnering with Total for the PECR4 bid round and look forward to working with Total for this project," said Jon Patillo, Nido's head of exploration.

-By Rhea Sandique-Carlos, Dow Jones Newswires; 632-848-5051; rhea.sandique-carlos@dowjones.com

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