Galoc field first sale agreed

The first sale of production from Galoc field has been agreed between Galoc Production Co. and Petron Corp.

Offshore staff

PERTH, Australia -- The first sale of production from Galoc field has been agreed between Galoc Production Co. and Petron Corp.

The cargo of 300,000 bbl of crude oil is scheduled for transfer from the FPSORubicon Intrepid to a tanker beginning on Nov. 7. Cargo loading is expected to take approximately 36 hours, after which it heads to Petron's refinery in Limay, Bataan, Philippines.

The field has been producing for over 20 days, according to Galoc Production. The field's average production rate has been 15,000 b/d including one week of commissioning and production testing.

Next cargo is expected late November.

11/03/2008

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