Galoc JV to Upgrade FPSO
|Otto Energy Ltd.
|Friday, July 08, 2011
Galoc Production Company has approved an upgrade of the mooring and riser system on the Rubicon Intrepid FPSO on the Galoc oil field offshore Philippines.
The company said the upgrade involves retrofitting an external, non-disconnectable, turret mooring system allowing the FPSO to rotate 360 degrees and safely operate in the field’s meteorological and oceanographic (metocean) conditions.
The system is also a key component of the field’s development, enabling the consortium to move forward with Phase 2 development. Engineering work on the new system has commenced, and the FPSO is slated to return to the field before year-end.
The Galoc oil field is situated in the North West Palawan Basin on Block C of Service Contract 14. Serving as the operator of the field is the Galoc Production Company, holding a 58.29% interest.
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