September 19, 2017 6:56 PM ET

Oil, Gas and Consumable Fuels

Company Overview of Galoc Production Company WLL

Company Overview

Galoc Production Company WLL offers oil exploration services. It develops and operates Galoc field. The company's Galoc Clastic unit is a turbidite sandstone structure at the Galoc field. The company was founded in 2005 and is based in Singapore with an additional office in Manila, the Philippines. As of February 17, 2015, Galoc Production Company WLL operates as a subsidiary of Nido Petroleum Ltd.

260 Orchard Road

No. 13-01 The Heeren

Singapore,  238855

Singapore

Founded in 2005

Phone:

65 6248 5360

Fax:

65 6248 5370

Key Executives for Galoc Production Company WLL

Chief Operating Officer
Compensation as of Fiscal Year 2017.

Galoc Production Company WLL Key Developments

Galoc Production Company WLL Signs Binding Rig Contract with Golden Close Maritime Corp. Ltd

Nido Petroleum Limited announced Galoc Production Company W.L.L., has signed a binding rig contract with Golden Close Maritime Corp. Ltd, for the drillship "Deepsea Metro I" to drill the Galoc-7/7ST appraisal well on behalf of the Block C1 SC 14 Joint Venture ("Galoc JV"). The Deepsea Metro I is a cutting edge 6th generation drillship with dual derricks. The rig has a main and an auxiliary work centre to facilitate simultaneous operations and active heave compensating drawworks for safe and efficient operations. The Deepsea Metro I is capable of operating in water depths of up to 10,000 feet (approximately 3,000 metres) and to drill to a total depth of 40,000 feet approximately 12,200 metres sub-sea. The water depth at the Galoc-7/7ST location is approximately 540 m MSL and the well has a planned total depth of approximately 2660 m MD BRT. Golden Close Maritime Corp. Ltd. is a wholly owned subsidiary of Deepsea Metro Ltd, which is 40% owned by the Odfjell Drilling group ("Odfjell Drilling"). Odfjell Drilling is the manager of Deepsea Metro I and has an excellent health and safety record and has been an important player in the upstream oil and gas industry since the 1970's. The Deepsea Metro I will be contracted by the Galoc JV for a period of approximately 4-5 weeks with a contract commencement window of 1­31 March 2017. The contract period consists of a firm well and an optional side track.

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