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 SC14C, part of the Galoc Phase II development approved in 2012.
During the period from 0600 hours (AWST) July 24 to 0600 hours (AWST) July 31, drilled the G-5H 12.25 inch hole section to 8,520 feet (2,597 meters) with angle being steadily increased to around 75 degrees. Logs obtained while drilling by the Ocean Patriot (mid-water semisub) have confirmed that the well has penetrated the oil bearing Galoc reservoir sandstones in line with the pre-drill prognosis.
The forward plan is to drill the G-5H well 12.25 inch hole until it is horizontal at approximately 8,924 feet (2,720 meters), then prepare to run and cement 9.625 inch casing.
Location and Proposed Depth
The Galoc field is located in Service Contract 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.
The wells are being batch drilled in 1,020 feet (311 meters) of water. It is planned that the Galoc-5H and Galoc-6H
After drilling of both Galoc-5H and Galoc-6H is completed, the DOF operated Skandia Hercules construction
First oil from the Phase II wells is expected during 4Q 2013.
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