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Otto Energy Limited Provides The Following Update on Galoc Operations in SC14C

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Core prompt: Otto Energy Limited ("Otto") (ASX:OEL), as operator of the producing Galoc oilfield joint venture offshore the Philippines, provide

Otto Energy Limited ("Otto") (ASX:OEL), as operator of the producing Galoc oilfield joint venture offshore the Philippines, provides the following update on Galoc operations in SC14C.

Ongoing operations

Super Typhoon Haiyan passed directly through the Galoc field area during the night of 8nd November and early hours of 9 November. During the storm, sea states and wind speeds were the most severe ever experienced at Galoc.

Following the storm, all personnel are safe and unharmed. A thorough inspection of both the FPSO and the subsea infrastructure confirmed that only minor damage has been sustained. Final system checks have been performed this morning and production has subsequently re-commenced.

Galoc Phase II

All support vessels and crew working on the Galoc Phase II development were evacuated from the field ahead of Super Typhoon Haiyan and were re-mobilised to the field progressively through 10November. Equipment installation for the final stages of the Galoc Phase II project has also re-commenced.

Otto Energy Chief Executive Officer Gregor McNab said: "The ferocity of Super Typhoon Haiyan has caused widespread devastation to many communities across the Philippines. Our thoughts are with those who have lost so much and we are working with our community partners to ensure Otto Energy provides much needed support."

 
keywords: Otto, Haiyan, restart
 
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