First oil from RP's Galoc field due July 16

ABS-CBN News

Posted at Jun 10 2008 03:12 PM | Updated as of Jun 10 2008 11:12 PM


Reuters


MANILA - Philippine Energy Secretary Angelo Reyes said on Tuesday the country's newest oil field, Galoc, will come on stream next month.

"We are pleased to announce that the development of Galoc oil field is completed and that the first flow of oil is estimated to be commencing 16 July 2008," Reyes told reporters.

He had earlier said it would come on stream on June 16, but later corrected himself.

Otto Energy, Nido Petroleum and European trader Vitol hold interests in the oilfield.