Offshore staff
SYDNEY, Australia -- Nido Petroleum Ltd. reports signing of drilling rig and subsea tree contracts for Galoc field, offshore Philippines.
Nido saysEnergy Searcher will drill development wells upon arrival in June 2007, and subsea trees were secured and will be refurbished for use in Galoc. The drillship is contracted for two wells plus one optional well.
The first phase of development will be two horizontal wells connected by seabed flowlines and riser system to an FPSO. Production is scheduled to begin 4Q07.
Galoc is in block C, SC 14, in North West Palawan basin, offshore Philippines in 290 m of water 70 km west of Culion Island.
Nido says the first wells are expected to produce 15,000 b/d oil each, but that the total field production rate likely will be held to 17,500 b/d oil to maximize production.
8/4/06
