Offshore staff
SYDNEY, Australia – With Phase II development drilling scheduled to begin in June and first Phase II production in 4Q 2013, the Kuwait Foreign Petroleum Exploration Co. has assumed a 26.84473% working interest in the Galoc joint venture.
KUFPEC acquired Risco Energy Pet. Ltd. and with it the interest in the Galoc oil production projectoffshore the Philippines. Otto Energy Ltd. (ASX:OEL) is the operator with a 33% working interest.
5/2/13