The Galoc Production Company, operator of the Galoc oil field offshore Palawan in the Philippines, advises that production was shut in on November 23, 2011 in preparation for the FPSO Rubicon Intrepid sail-away to Singapore, expected to depart this weekend for the planned 3-month turret installation work program at Keppel shipyard. Cargo onboard is scheduled to be lifted on November 25, 2011 which will be the last offtake for the year.

The upgrade of the mooring system to a turret system is expected to substantially increase the reliability and uptime of the FPSO and is a crucial component of infrastructure to enable the Galoc Joint Venture to move ahead with a potential Phase II development program.

While the FPSO is out of field, the seabed anchoring and riser modification will be undertaken in preparation for the reconnection of the FPSO on return to the field in late Q1 2012. Production will re-commence shortly after the FPSO reconnection.

The Galoc field is located in Service Contract SC14-C in 290m of water approx. 65km North West of Palawan in the Republic of the Philippines. The original development involved the construction of two subsea horizontal production wells, with extended reservoir contacts, tied back to a Floating Production Storage and Offloading facility via a short seabed pipeline and mid water riser system.

Tags: Galoc Production Company