Nido spuds Galoc well
Nido Petroleum has started drilling operations at the Galoc-7 appraisal well offshore The Philippines.
The company is using the Deepsea Metro I drillship for the well located in Block C1 of Service Contract 14.
According a recent statement by Odfjell, the Deepsea Metro I has been contracted for one firm well of approximately 3 weeks in duration and one optional side track.
The current well is looking to appraise the currently untested Galoc Mid Area (GMA) in Nido’s core asset, the Galoc field.
Nico has said that if Galoc-7 is successful, the subsequent development of the GMA is expected to materially increase reserves and production, substantially extending the life of the Galoc Field.