Galoc JV to Upgrade FPSO
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.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.
- Philippines DOE Grants Moratorium on Palawan Basin's SC55 Work Program (Jun 17)
- Otto Launches Legal Action Against Swala Over Tanzania's Pangani License (May 13)
- Otto Energy Updates on Drilling at SM-71 #1 Discovery in the Gulf of Mexico (Apr 27)
Company: Galoc Production Co. more info
- Partners Nearer to Further Development of Galoc Oil Field Offshore Palawan (Jul 14)
- Otto Energy Completes Sale of Galoc Production Co. Stake to Nido for $106M (Feb 17)
- Risco Energy to Acquire Galoc Oil Field Operator GPC for $101.4M (Sep 22)