Nido: FPSO On-Site at Galoc

Nido Petroleum Limited (Nido) announced that the Floating, Production, Storage and Offtake (FPSO) vessel 'Rubicon Intrepid' has arrived on location at the Galoc field.

The field Operator, the Galoc Production Company, has advised that the FPSO departed Batangas on 10 May 2008 and reached the Galoc field on 11 May 2008.

Over the next week, the vessel will commence mooring, hook-up and commissioning procedures in preparation for first production. This preparatory work is expected to take up to three weeks to complete, with first oil anticipated around the end of May. Nido will continue to provide the market with regular updates on the Galoc development and will notify the market immediately of material events.