Nido Petroleum Limited (Nido) has been advised by operator Galoc Production Company (GPC) that due to adverse weather conditions at the Galoc oil field location arising from Typhoon Megi, production has been shut-in and the FPSO disconnected from the mooring and riser system. GPC has further advised that Rubicon Offshore International, the owner of the FPSO, is in the process of mobilising a support vessel and equipment to the field to assist in reconnection and repair of the mooring and riser system. Nido will provide a further update once the FPSO has been reconnected and production operations have recommenced.
NDO Price at posting:
16.5¢ Sentiment: None Disclosure: Not Held
