Offshore staff
MANAMA, Bahrain –Galoc field production has restarted offshore Palawan, Philippines following FPSO refurbishment.
The most significant change is the installation of a bow mounted,non-disconnectable turret mooring system. With this, the Galoc Joint Venture plans to look at a potential Phase 2 development of the field.
Front-end engineering and design began late in 2011 and the final investment decision is expected in mid-2012. The FEED includes subsurface reservoir modeling, drilling and completion design, subsea engineering and tieback design for new wells, and financing options.
Beyond that, acquisition of 184 sq km (71 sq mi) of new 3D seismic data was collected over Galoc and the adjacent Galoc North prospect.
The Galoc field is located in service contract SC14-C (Galoc Sub Block) in 290 m (915 ft) of water approximately 65 km (40 mi) northwest of Palawan in the Republic of the Philippines.
Participants in the joint venture are Galoc Production Co. WLL, 33%, Galoc Production Co. (2) Pte Ltd, 26.8%; Nico Production (Galoc) Pty Ltd, 22.87%; Oriental Petroleum & Minerals Corp and Linapacan Oil Gas & Power Corp, 7.78%; Philodrill Corp., 7.21%, and Forum Energy Philippines Corp. 2.28%.
4/02/2012
FPSO Rubicon Intrepid with bow mounted non-disconnectable turret installed.
