TAGUIG CITY, Philippines -- Production has begun from the Galoc 3 and Galoc 4 wells on the Galoc field.
Once production has stabilized following flow testing, production is expected to reach between 18,000 and 20,000 b/d of oil from the two wells. The company expects average production of about 17,000 b/d of oil over the remainder of this year.
The reserves estimate in Galoc is approximately 10 MMbbl of oil based on an assessment in 2006 for a two-well development, the company says. During the initial six months of production, the company will assess the field's ultimate potential with a view to further development.