Project Profile
Value: Undisclosed
Location: Gulf of Thailand, over the southern margin of the Pattani Basin and the northwest margin of the Malay Basin, Thailand
Area: 6,791 sq km
Water Depth: 75 metres
Start-up Year: -
Block G11/48 covers 6,791 sq km and is located in the Gulf of Thailand over the southern margin of the Pattani Basin and the northwest margin of the Malay Basin, Thailand with water depths up to 75 metres. The Production Area Application and the Environment Imapct Assessment for the Nong Yao oil development in G11/48 were approved by the Thai authorities in the fourth quarter 2012. KrisEnergy Ltd through its wholly owned subsidiary, KrisEnergy (Gulf of Thailand) Ltd, has entered into a farm-out agreement with Pearl Oil (Amata) Ltd, an affiliate of Mubadala Petroleum, for a 30% working interest in block G6/48 in the Gulf of Thailand, an area the company considers core to its future sustained growth. The agreement, which includes the transfer of operatorship to KrisEnergy, is pending the approval of the government of the Kingdom of Thailand and partner Northern Gulf Petroleum Pte Ltd. once approval has been received, the company and Mubadala Petroleum will each hold a 30% working interest in the block with Northern Gulf Petroleum Pte Ltd holding the remaining 40%. Production at the Nong Yao oil field, located in the southern Gulf of Thailand, commenced on 17 June 2015. Production is expected to reach a peak rate of approx. 10,000 bopd as more production wells are completed.
Operators:
Pearl Oil (Amata) Ltd (affiliate of Mubadala Petroleum): Operator with 30% interest
KrisEnergy (Gulf of Thailand) Ltd: 30% interest
Northern Gulf Petroleum Pte Ltd: 40% interest
Contractors:
Consortium for EPCIC contract:
Nippon Steel
Sumikin Engineering Co. Ltd. (NSSE)
Atwood Oceanics: Drilling services using the Atwood Orca jack-up rig