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Vitol joint venture update on progress with remedial work in the Philippines

GPC (Galoc Production Company) is pleased to report progress towards re-commencement of production from the Galoc Field, offshore the Philippines; the diver re-instatement of the mooring and riser system has been completed and the umbilical plus subsea equipment integrity testing successfully concluded.

Installation of the mooring system enhancement, specifically the additional mooring lines to be connected to the FPSO stern, is progressing with the first system installed and hook-up to the FPSO ongoing. Once completed, change out of the riser sections will be undertaken.

At this time weather remains favourable and completion of the re-instatement activities and re-commencement of production is anticipated next week.

For further information please visit www.galoc.com

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