Service Contract 14C (Galoc Field) is located 60km northwest off Palawan Island, offshore of the Republic of the Philippines. Matahio Energy holds a 79% operating interest via its wholly owned local entity NPG, alongside domestic partners.
Galoc has been in production since 2008 and recently passed 24 MMstb recovered. The field produces 1,500bopd (Gross) via four subsea wells tied back to a Floating Production, Storage and Offloading (FPSO) vessel “Intrepid Balanghai”, which is also owned by Matahio. Since taking over as Operator in late 2018, the Matahio team have halved the asset’s operating costs. Consequently, the field is now expected to produce into the late 2020’s.
The FPSO and subsea facilities are managed by THREE60 Energy under a Life-of-Field Operations and Maintenance contract, supported by NPG’s operations team in Manila and technical experts in Singapore and Kuala Lumpur.
Matahio Energy are the 100% owner of the FPSO Intrepid Balanghai, a a Panama-flagged vessel with IMO 8009569 and classified by the American Bureau of Shipping (ABS). Key technical specifications include:
The vessel is currently located at the SC14C Galoc Field, offshore Palawan in the Republic of the Philippines. The vessel is operated in partnership with THREE60 Energy as Operations and Maintenance contractor. Matahio are actively seeking re-deployment opportunities for the FPSO, with a particular focus on Philippines opportunities.