The Galoc Field in offshore NW Palawan awarded a multi-million dollar contract for the Operations & Management of the FPSO Intrepid to THREE60 Energy. As reported previously, Rubicon Offshore International (ROI) sold the FPSO Intrepid to Tamarind’s Upstream Infrastructure Holdings Pte Ltd (UIH) consistent with Tamarind’s resolve to optimize operational efficiency across the business. In turn, Tamarind is leasing the FPSO Intrepid to the Galoc Joint Venture (JV) on terms that are mutually beneficial to both parties.
Under the terms of the life of field contract, THREE60 Energy will carry out operations and maintenance (O&M) duties on behalf of the Galoc JV, with the objective of improving performance and extending the field’s economic life.
As well as generating further local employment opportunities, the Galoc JV will benefit from the international expertise and competency of THREE60 Energy especially in managing late field life operations.