Rubicon Intrepid FPSO arrives at Galoc
Posted: 12 May 2008
Otto Energy Limited reported that the Rubicon Intrepid Floating Production, Storage and Offloading System (FPSO) arrived at the Galoc Oil Field, located in the Service Contract (SC) 14C offshore Philippines, on Sunday 11th May 2008.
"We are very pleased to have accomplished another key milestone towards first production from the Galoc Oil Field," said Alex Parks, CEO of Otto Energy.
Galoc Production Company, Operator of the Galoc Field, has advised the hookup schedule is approximately 3 weeks to RFSU (Ready For Start Up) when production will commence, building to full field rate over the following weeks.
Otto holds an 18 per cent indirect interest in the field via a 32 per cent shareholding in the operating company GPC, which holds a 58.29 per cent working interest in the Galoc Field.
Posted by Richard Price, Editor, EnergyME.com
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