Nido Petroleum is a wholly owned subsidiary of Bangchak Corporation, a Multinational Energy Company.

Service Contract 14C1 – Galoc Oil Field

SC14C1 SC14C1 SC14C1
Project: Galoc Oil Field
Location: Palawan Basin, offshore Philippines
Working interest 55.88%
Operator Galoc Production Company WLL
Area 16,000 hectares
Initial Discovery: Discovered in 1981 at 290 metre water depth
Development Schedule Development of the field commenced in October 2007.
Phase 1: Two horizontal subsea wells tied back to Floating Production Storage and Offtake (FPSO) vessel ”Rubicon Intrepid” in February 2008.
First production from the FPSO was achieved on 9 October 2008.
Turret mooring and riser system installed in Q1 2012 to minimise production disruptions and HSSE risks.
Phase 2: Was successfully commissioned in December 2013.
Estimated Ultimate Recoverable Reserves (2P): The reserves position as at 31 December 2015 was reported to the ASX in the Company's Annual Report for 2015. 
Brief description: The Galoc oil field is situated in Block C1 of Service Contract 14 (SC 14) in the North West Palawan Basin, offshore Philippines. The field is located approximately 70 kilometres west of Culion Island in a water depth of approximately 320 metres. The reservoir depth is 2,100 – 2,200 metres with a 57+ metre gross oil column consisting of early Miocene turbidite sandstone with 16+% average reservoir porosity. The field produces a 35° API, 1.6% sulphur content crude that is marketed within the southeast and north Asian regions.
Recent activity: The Galoc Joint Venture is continuing to evaluate further exploration, appraisal and incremental development opportunities at the Galoc Oil Field and in the SC 14 C1 Contract Area.