Otto Reports Reserves Increase at Galoc Field
Thursday, March 14, 2013 The reported increases in reserves are attributable to better than expected reservoir performance to date and an extension of field life due to higher prevailing oil prices, Otto says.
Otto Sees Successive Full Year Loss amid Contract Cancellations
Friday, February 22, 2013 Otto Marine posts a full year loss for the second time running amid termination of contracts and fewer vessels deployed.
Otto Confirms Presence of Sedimentary Basins in East Africa PSAs
Wednesday, February 20, 2013 Otto receives encouraging results from airborne surveys which confirm the presence of significant sedimentary basins at Kilosa-Kilombero and at Pangani onshore East Africa.
Otto Receives Extension To Explore Offshore Philippines Block
Wednesday, June 27, 2012 Australia's Otto Energy and its partners have received a nine-month extension to the third exploration sub-phase of Service Contract 69 (SC 69) in the offshore Visayan Basin in the Philippines.
Otto Upgrades Reserves at Galoc Field
Monday, May 21, 2012 Otto Energy Ltd. provides an update on remaining oil reserves balances at the Galoc oil field in the Philippines as at January 1, 2012.
Otto Gets Green Light for Tanzanian Interests
Monday, May 07, 2012 Otto Energy Ltd has received approval from the Tanzanian Government for the assignment of a working interest in the Kilosa-Kilombero and Pangani Production Sharing Agreements.
BHP Billiton Requests Extension at SC55
Monday, April 16, 2012 BHP Billiton, as operator of Philippines Service Contract 55 (SC55), has requested that the Department of Energy (DOE) extend the current Exploration Sub-Phase 4 of SC55 by 18 months.
BHP Billiton Issues Termination Notice for Transocean Rig
Wednesday, January 18, 2012 BHP Billiton has issued a termination notice for the rig Transocean Deepwater Expedition due to the rig not passing key acceptance tests.
Otto Executes Final Farm-In Agreements Offshore Palawan
Wednesday, December 28, 2011 Otto Energy executes the final farm‐in agreements supporting BHP Billiton's earlier decision to enter into Service Contract 55, Offshore Palawan, Philippines.
Otto Shuts-In Galoc Field
Monday, November 28, 2011 Otto provided the following update regarding the shut-in of the FPSO Rubicon Intrepid and the Galoc oil field for the previously announced upgrade works.
Otto Finalizes Stake Increase in Galoc Field
Friday, September 30, 2011 Otto has now completed the transaction with Vitol previously announced on August 12, 2011.
GPC OKs Commencement of FEED Work at Galoc Field
Monday, September 05, 2011 Galoc Production Company has approved to commence FEED work and the acquisition of new 3D seismic in support of the planned Phase II development at the Galoc Oil Field.
Otto Increases Stake in Galoc Oil Field
Friday, August 12, 2011 Otto has entered into various definitive agreements to increase its stake in the producing Galoc Oil Field offshore the Philippines from an indirect 18.78% to direct 33.0% under Service Contract 14C (Galoc).
Galoc JV to Install Improved Mooring at FPSO
Tuesday, July 26, 2011 Galoc JV has agreed to install an improved mooring and riser system upgrade for FPSO Rubicon Intrepid, which is crucial to progressing Phase 2 field development.
Galoc JV to Upgrade FPSO
Friday, July 08, 2011 GPC reported an update regarding an upgrade of the mooring and riser system for the FPSO Rubicon Intrepid operating at the Galoc field.
Seismic Prog. Completed at Otto's Well Offshore Philippines
Thursday, June 23, 2011 Otto announced that the 3D seismic acquisition program commenced earlier in June has successfully been completed.
Otto Begins Seismic Acquisition Offshore Philippines
Wednesday, June 08, 2011 Otto has commenced a 3D seismic data acquisition program in Service Contract 69 (SC 69) in the Visayan Basin of the Republic of Philippines.
Otto to Commence Abandonment Ops at Duhat Sidetrack
Wednesday, May 25, 2011 Otto reported that the Duhat-1A well was subsequently plugged back to 200 m TVD and abandonment operations have commenced.
Otto Notes Drilling Ops at Duhat Well
Monday, May 16, 2011 Otto provided the following update on the progress of the Duhat-1 well.
Otto Drills Ahead at Duhat Well
Thursday, April 28, 2011 Otto provided the following update on the progress of the Duhat-1 well that was spudded on April 19, 2011.