OIL

Galoc start-up held back

FIRST oil from the Galoc oil field offshore Philippines has been delayed again until early May due to slower than expected pre-commissioning and verification work, co-venturer Nido Petroleum said.

Pre-commissioning of the floating production, storage and offtake vessel Rubicon Intrepid is continuing in Batangas, 120km south of Manila, while verification of readiness for hook-up of the FPSO to mooring and riser system is ongoing.

Nido had said in February that production from the field would occur behind schedule in about two months' time due to technical issues while completing the Galoc-3 development well.

Once production begins, output from Galoc is expected to be more than 15,000 barrels of oil per day.

Nido has a 23% stake in Galoc while field partner Otto Energy has a stake in the project via the acquisition of a 31.38% shareholding in Galoc Production Company, which is operator, and holds a 58.29% stake in the development in offshore Palawan Basin service contract SC14C.

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

TOPICS:

< PREVIOUS ARTICLE

Big reserves boost for Carnarvon

NEXT ARTICLE >

Growler partners make drilling plans

POLICY

Five year opportunity for WA onshore gas producers to export LNG

POLICY

BPH, Asset and Bounty lawyer up as PEP-11 permit knock back looks likely

POLICY

WA government promises to cut through approval process red tape

OPERATIONS

Woodside secures long-term LNG deal with JERA

RESEARCH

Premium subscribers only

View more

A growing series of reports, each focused on a key discussion point for the energy sector, brought to you by the Energy News Bulletin Intelligence team.