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.

09/30/2011



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

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...