Vitol JV update: Galoc Field – 1,000,000th bbl producedupdate: Galoc Field – 1,000,000th bbl produced
The symbolic milestone of the millionth (1,000,000th) barrel of oil was produced earlier today Monday 9th March.
Galoc Production Company (GPC) is pleased to confirm that Galoc Field production has been steady since re-commencement on 25th February with the benefit of increased “flush” production realized as expected. The rates achieved have been around 16,000 bopd for the 1st week. However rates are expected to settle back to 12,000 to 14,000 bopd over the coming weeks. GPC is also pleased to confirm that the enhancements made to the FPSO’s mooring arrangements have so far performed as expected.
The next offloading is scheduled for mid March with the sale to an existing purchaser based in Asia and sale of the subsequent cargo is also well advanced.
Further information on GPC and the Galoc Field can be obtained from: