Project Profile
Value: Undisclosed
Location: North of the G10/48 development block, Gulf of Thailand, Karawake Basin, Thailand
Area: 1,124 sq km
Water Depth: 60 metres
Start-up Year: -
G6/48 block covers 1,124 sq km over the Karawake Basin in the Gulf of Thailand in shallow waters of approximately 60 metres. In line with the Thai licensing regulations, a portion of the G6/48 acreage will be relinquished at the end of the second exploration period. This relinquishment is pending the regulator’s approval. G6/48 lies north of the G10/48 development block, in which KrisEnergy has a 25% working interest and to the south of B8/32 oil and gas producing area, where the Company has a 4.6% interest. There is extensive coverage of 2D and 3D seismic data across the G6/4.
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%.
Operators:
KrisEnergy Ltd: Operator with 30% interest
Pearl Oil (Amata) Ltd (affiliate of Mubadala Petroleum): 30% interest
Northern Gulf Petroleum Pte Ltd: 40% interest
Contractors:
Shelf Drilling (Southeast Asia) Limited: Drilling services using the Key Gibraltar jack-up rig