Otto Energy Limited, as operator of the producing Galoc oilfield joint venture offshore the Philippines, provided the following update on the Galoc-5H and Galoc-6H drilling campaign in Service Contract (SC) 14C, part of the Galoc Phase II development approved in 2012.
During the period from 0600 hours (AWST) July 3 to 0600 hours (AWST) July 10, installed and tested Blowout Preventer (BOP) at G-6H, performed Leak Off Test (LOT) and drilling ahead in 12.25 inch hole section.
The forward plan is to drill 12.25 inch hole at G-6H through to reservoir at approximately 8,202 feet (2,500 meters) Measured Depth (MD), then run and cement 9.625 inch casing.
Location and Proposed Depth
The Galoc field is located in SC14C (Galoc Sub Block) in 951 feet (290 meters) of water approximately 40 miles (65 kilometers) North West of Palawan Island and 217 miles (350 kilometers) south of Manila in the Republic of the Philippines. The Galoc-5H and Galoc-6H development wells are being drilled within the existing producing field that has delivered over 10 million barrels of production since the field was commissioned in 2008. Otto is drilling the wells using the Ocean Patriot (mid-water semisub).
The wells are being batch drilled in 1,020 feet (311 meters) of water. It is planned that the Galoc-5H and Galoc-6H development wells will be drilled to a total vertical depth of 7,185 feet (2,190 meters) with approximately 6,561 feet (2,000 meters) of horizontal completion. Drilling is expected to take approximately 115 days including the flowing of the wells for clean-up.
After drilling of both Galoc-5H and Galoc-6H is completed, the DOF operated Skandia Hercules construction vessel will be used to install the subsea equipment and complete the hook-up of both wells to the FPSO Rubicon Intrepid.
First oil from the Phase II wells is expected during 4Q 2013.
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