Weather postpones Galoc first oil

Typhoon Fengshen has reached the Palawan basin offshore Philippines and caused postponement of first oil from Galoc field, say reports from the area.

Offshore staff

PALAWAN, Philippines –Typhoon Fengshen has reached the Palawan basin offshore Philippines and caused postponement of first oil from Galoc field, say reports from the area.

First production now is expected in early July. The FPSORubicon Intrepid reportedly was disconnected in anticipation of the storm passing within 100 mi (150 km) of the field. Galoc is 65 km (40 mi) northwest of Palawan.

Galoc is expected to produce 17,000 to 20,000 b/d of oil upon start-up.

Galoc Production Co. (GPC) owns 58% as operator of the oil field in SC14. Nido Petroleum holds 22%, while a Filipino consortium holds the remaining 20%.

06/23/2008

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