Tamarind is pleased to announce that we recently acquired Nido's GPC and NPG entities and now have 55.88% equity and operatorship of the Galoc field, offshore Philippines. We're adding to our growing portfolio and we are keen to delve into the opportunities this field holds.
With this acquisition, we welcome a dedicated Manila-based team to our organization and their expertise will be valuable as they have been with the asset for many years. Their knowledge and experience will complement Tamarind's existing skill set to maintain the field's excellent operational performance and to advance Galoc into a new phase of development.
The Galoc Oil Field has 4 producing wells that flow into FPSO Rubicon Intrepid which has a 450,000 bbl storage capacity. We look forward to extending the life of this asset with a range of optimization and development opportunities.