Otto Energy has been advised by the Galoc Production Company (GPC), that a category 1 Typhoon Emong (Chan‐Hom) is passing 300 nautical miles to the north of the field. Production has been temporarily suspended while preliminary preparations are being made to disconnect the FPSO in the event it becomes necessary.
On May 5, 2009, the fifth offtake was completed with a total of over 336,000 bbls. The next offload is scheduled for end of May or early June. Otto will update the market following the restart of production as more information becomes available.
The Galoc oil field is located offshore Philippines on Service Contract 14C.
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