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Galoc closer to first oil

THE Galoc oil development offshore Philippines has taken another step towards production with the...

Galoc closer to first oil

Partner Nido Petroleum said the hook-up of the umbilical is underway and will be followed by function testing of the subsea tress from the FPSO before commissioning and testing of the production facilities is carried out.

Galoc is expected to start producing more than 15,000 barrels of oil per day from mid-June.

Nido has a 23% stake in Galoc while another Perth-based junior, Otto Energy, has an 18.28% indirect stake in the project.

Other members of the consortium are Alcorn Gold Resources, Forum Energy, Oriental Petroleum, PetroEnergy Resources and Philodrill.

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