Philippines: Otto Energy receives superior proposal from Nido of US$108 million for its interest in the Galoc oil field

Otmane El Rhazi from Energy-pedia regional news: Central & SE Asia / Australasia.



Following an earlier agreement with Risco Energy Investments, Otto Energy has announced it has now executed a superior sale and purchase agreement with Nido Petroleum to divest its interest in the Galoc oil field, offshore Philippines, for US$108m.