Otto completes adding Galoc interest

Offshore staff

WEST PERTH, Australia – Otto Energy Ltd. Says it has completed a transaction with Vitol whereby Otto increases its stake in the Galoc oil field to a 33% direct working interest.

Otto did this by acquiring 100% equity in the operator, Galoc Production Co. WLL.

Otto says it now turns to moving Phase II of the development forward.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...