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.
Check out the full August issue on the Waterford Press website.
Tamarind is pleased to announce that it has entered into a contract with COSL Drilling Europe AS for the semi-submersible rig, Hai Yang Shi You 982 (“HYSY 982”). The contract consists of three (3) firm wells, and options to extend the contract terms for up to one (1) optional side-track development well and up to one (1) optional exploration well, all to be drilled within the Tui permit. The drilling program is due to commence in Q2/Q3 2019.
Tamarind is very pleased to be using this new, sixth generation unit, that will bring a new level of sophistication in the drilling of offshore wells in New Zealand. Tamarind is excited by the potential that this campaign brings and to be undertaking this program with COSL, who will provide a rig that meets the highest health, safety, environmental and performance standards.