Otto Energy Commences Drilling at Galoc-6H Well
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) Aug. 7 to 0600 hours (AWST) Aug. 14, drilled the G-6H 8.5 inch hole section to 11,371 feet (3,466 meters) through the Galoc reservoir interval, intersecting both sandstone and claystone intervals consistent with conditions experienced in previous development drilling at the Galoc field. This has included a significant interval of high quality, oil bearing reservoir sands.
The forward plan is to continue drilling the G-6H 8.5 inch hole horizontally with the Ocean Patriot (mid-water semisub) for approximately a further 3,281 feet (1,000 meters) through the reservoir interval prior to running the completion liner and assembly.
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 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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