The Philodrill Corporation is pleased to announce that production from the Galoc Field has re-started on April 2, 2012 following a planned field and facilities shutdown for refurbishment of the floating production storage and offloading (FPSO) vessel “Rubicon Intrepid”. The field is now producing at a stabilized average rate of about 6,300 barrels of oil per day from the two Galoc wells. 

During the shutdown period, the Rubicon Intrepid had undergone re-certification, maintenance, inspection and installation of a new bow-mounted, non-disconnectable turret mooring system to replace the previous disconnectable system.   All these works were carried out at the Keppel Shipyard in Singapore. 

The SC 14 Galoc Consortium is confident that the upgrading of the FPSO mooring system is expected to increase the reliability and uptime of the vessel.  In addition, the new mooring system is a crucial component of infrastructure to enable the Galoc Joint Venture to move ahead with a potential Phase II development of the Galoc Field.

Already, the joint venture had commenced the detailed subsurface modeling and engineering design works in late 2011 and remain on schedule for the Final Investment Decision for the Phase II development which is due to be made around mid-2012.