Galoc Field Resumes Production after Super Typhoon Haiyan Passes

Otto Energy Limited , as operator of the producing Galoc oilfield joint venture offshore the Philippines, provides the following update on Galoc operations in SC14C.

Super Typhoon Haiyan passed directly through the Galoc field area through the night of 8th November and early hours of 9th November. Sea states and wind speeds were the most severe experienced at the Galoc field. All personnel are safe and unharmed. A thorough inspection of both the FPSO and the subsea infrastructure confirmed that only minor damage has been sustained. Production from the field was suspended as a precautionary measure on 8th November. Final system checks have been performed this morning and production has subsequently re‐commenced.

All support vessels and crew were evacuated from the field ahead of Typhoon Haiyan and were re‐mobilised to the field progressively through 10th November. Equipment installation for the final stages of the Galoc Phase II project has re‐commenced.

Otto Energy Chief Executive Officer Gregor McNab said:

“The ferocity of Super Typhoon Haiyan has caused widespread devastation to many communities across the Philippines. Our thoughts are with those who have lost so much and we are working with our community partners to ensure Otto Energy provides much needed support.”

“I am particularly proud of our team who have worked through the exceptional challenges presented by Super Typhoon Haiyan and the critical role played by our operations team from both Otto Energy and Rubicon Offshore. The professionalism of these people combined with the integrity of the equipment has allowed us to endure this major typhoon with no harm to our people or environment and minimal impact to production. This underscores the value of our investment to upgrade the Rubicon Intrepid in early 2012.”

[mappress]
Press Release, November 11, 2013