BANGKOK, Feb. 15�Chevron Offshore (Thailand) Ltd. plans to raise crude oil production from its Gulf of Thailand license 164% to 90,000 b/d by 2004-2005.
Natural gas production from block B8/32, covering the 2,900 sq km area about 201 km offshore, would also rise by more than 130% to 340 MMcfd.
Chevron told Thai authorities that four new fields in the tract are driving higher production.
North Jarmjuree, South Jarmjuree, Kung, and Maliwan will be developed in stages over the next 4-5 years.
Already the largest oil producer in Thailand, Chevron Offshore's current production is from Tantawan and Benchamas fields.
The company has estimated oil reserves in block B8/32 at 350 million bbl plus more than 2.5 tcf of gas.
Maliwan, the third field, is due to start production in November at 1,000 b/d, ramping up to 13,000 b/d by 2005.
Production from North Jarmjuree is scheduled to to start in early 2003 at 50 MMcfd of gas, increasing to to 190 MMcfd of gas and 6,000 b/d of oil in 2005 (OGJ Online, Nov. 13, 2000).
The development of other fields and production timeframes are still under consideration.
Chevron has spent more than $500 million to develop oil and gas production on B8/32and was on course to spend another $400 million over the next 3 years.
The company has sought to expand its prospecting venture in Thailand. It won preliminary endorsement from Thai authorities for an additional license over block G4/33, covering 9,686 sq km west of its block B8/32.
Chevron holds a 51.66% interest in block B8/32 which was acquired as result of its purchase of Rutherford McMoran Oil Corp. in 1999. Chevron assumed operation of the block in October last year.
Other partners with Chevron in the prolific B8/32 concession area are Thaipo, a unit of United States-based Pogo Producing Co. with 46.34% and Bangkok-based Palang Sophon 2%.
