Tamarind Resources has acquired Nido’s GPC and NPG subsidiaries, giving it 55.88% equity and operatorship of the Galoc oil field offshore the Philippines.
Nido’s Manila-based team has transferred to Tamarind, which is seeking to take Galoc into a new phase of development, including optimization and expansion opportunities. ​ Currently four wells produce oil through the FPSO Rubicon Intrepid which has a 450,000-bbl storage capacity.
