Project Profile
Location: Block G3/45 in the western Gulf of Thailand
Value: US$100 million
Potential Reserves: 140 million boe
Water Depth: 25m
Bua Ban oil field is located at Block G3/45 in the western Gulf of Thailand. The field has an estimated 90-140 million bbl in place and 21.8 million bbl proved and probable.
In 2003, Coastal Energy acquired 100% of the lease of the block from the Thailand government.
In 2005, Coastal Energy drilled three wells on the Bua Ban field, confirming oil from the main Oligocene sandstone reservoir. In 2007, a 3D seismic survey confirmed drilling locations for several un-appraised discoveries, the Benjarong prospect and the Songkhla SW prospect; and it further evaluated the Bua Ban field in order to begin field development.
Proven reserves on the field commercially justify developing Bua Ban through an offshore platform and processing facilities. Since 2009, field development commenced on Bua Ban including the drilling of nine wells. The platform and facilities are scheduled to be installed in the first quarter of 2010.
Operator:
Coastal Energy Company (NuCoastal): Operator with 100% interest
Contractors:
Atwood Oceanics: Drilling Contract, Vicksburg jackup
EOC Ltd.: Supply barge
WorleyParsons: FEED contract