Galoc subsea system offshore Philippines installed
2008.03.31 -
Projects
Galoc Production Company has completed the installation of subsea equipment, and mooring and riser systems for the field, joint venture member Nido Petroleum has said. Galoc is the operator of the Galoc oilfield off the Philippines.
Galoc have installed the subsea equipment in about 290 metres of water on the field, about 65 kilometres north-west of Palawan, Nido said in a statement. It said the FPSO was expected on the field early this week after final fitting out and commissioning work at Batangas. First oil from the project is expected in late April.
Shareholders in the Galoc field are the Galoc Production Company (58.29%), Nido Petroleum (22.28%), Philodrill (7.02%), Oriental Petroleum & Minerals (7.58%), Forum Energy (2.27%), Alcorn Gold Resources (1.53%) and PetroEnergy Resources (1.03%).
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