Offshore staff

BANGKOK, Thailand – PTT Exploration and Production Public Co. Ltd. (PTTEP) has found more natural gas in AC/RL7 block in Australia. The company is confident that the block has high potential and is preparing to drill another appraisal well next year to confirm the preliminary petroleum reserves.

PTTEP President and CEO Anon Sirisaengtaksin said that PTTEP Australasia (Ashmore Cartier) Pty. Ltd. found natural gas in the appraisal well Cash-2 in Cash-Maple field in AC/RL7 block in the Timor Sea about 700 km (435 mi) west of Darwin, Australia. PTTEP AAA owns 100% interest in this block.

Cash-2 was drilled to 4,135 m (13,566 ft). Gas flow tests in two zones flowed 28 and 30 MMcf/d with 737 and 663 b/d of condensate.

The well results will provide input for a preliminary front-end engineering design study for a potential floating LNG (FLNG) project in the Timor Sea to develop the stranded gas resources.

09/28/2011