Otto: Galoc Phase II Rig Demobilisation Complete, Subsea Installation Starts

Otto Energy Limited (“Otto”), as operator of the producing Galoc oilfield joint venture offshore the Philippines, provides the following update on the Galoc Phase II project in SC14C.

During the period from 0600 hours (AWST) on 21st October 2013 to 0600 hours (AWST) on 4th November 2013, the Galoc-6H well was secured and the drilling rig Ocean Patriot pulled anchors, demobilized to Singapore and is now off-hire. This marks the successful completion of all drilling activities of the Phase II development.

The construction vessel arrived in the Galoc field area on 1st November 2013 and has commenced installation activities to connect the Galoc-5H and Galoc-6H wells into the FPSO Rubicon Intrepid. It is expected that these offshore installation activities will be completed before the end of November 2013 resulting in the first oil being produced from the FPSO Rubicon Intrepid. A further update will be provided upon the completion of the installation and commissioning activities in the field.

[mappress]
Press Release, November 04, 2013