Ophir adding third platform at Bualuang offshore Thailand
Ophir Energy has committed to a fourth development phase at the Bualuang oil field in the Gulf of Thailand.
This will start with infill drilling in 2018 (three re-drills plus two workovers) and will continue next year with the installation of a new 12-slot platform (Bualuang C) bridge-linked to the existing Alpha and Bravo facilities, followed by further drilling.
Ophir is targeting 9.9 MMbbl of reserves in this phase, with an estimated development cost of $138 million. It could also drill various satellite targets adjacent to Bualuang.
Last year the field’s production averaged 8,300 boe/d, with infill drilling helping to offset predicted natural well declines. At the same time, the company implemented a water debottlenecking program that has increased Bualuang’s water handling capacity to 75,000 b/d.
Elsewhere, the company has exited seven deepwater PSCs over the past year: DW2A offshore Malaysia and Mbeli, Ntsina, Nkouere, Nkawa, Manga, and Gnondo off Gabon.
At the start of 2018, Ophir also opted to depart block 513 off Côte d’Ivoire. Its present focus is on lower risk, infrastructure-led activities.
Currently, Ophir and operator Murphy Oil are interpreting 3D data over block 5 offshore Mexico, 30 km (18.6 mi) north of block 7 containing last summer’sZama oil discovery. Drilling should begin next year.
Early in 2018 Ophir gained 20% shares of new licenses for blocks 10 and 12 in Mexico’s little-explored Ridges basin.
Off Equatorial Guinea, the company has commissioned a 3D seismic survey this year over the recently awarded block EG-24, on trend with producing oil fields.
Offshore Myanmar, under a transaction with Chevron (pending government approval) Ophir will take a 42% interest in blocks AD-03 and A-5, and plans to take a decision before mid-year on whether to drill across the combined acreage.
A drilling decision is also pending for the West Papua IV and Aru PSCs off eastern Indonesia, following analysis of recently acquired seismic.