TAMARIND ACQUIRES GALOC FIELD FPSO

To progress Tamarind’s strategy of improving performance from under-exploited fields via operational excellence, now even more critical given the continued volatility and downturn in world oil prices, the Tamarind team has continued to look at innovative ways to maintain oil field profitability. To achieve this, Tamarind has acquired the FPSO Intrepid from its O&M provider Rubicon. In turn, Tamarind is leasing the FPSO Intrepid to the Galoc Joint Venture on terms that are mutually beneficial to both parties and most importantly, enable the Galoc JV to continue production and the economic life of the Galoc field.