Typhoon Nears: Galoc Production Suspended Temporarily
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.
- 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)